Did you know you can reduce your taxes for 2018 by making a gift to a permanent endowment fund that will benefit the Church FOREVER?
Montana taxpayers have a unique and wonderful incentive to make gifts to permanent endowment funds of certain Montana charities. As Catholics, we can donate to the permanent endowments of our parishes or to a cause that benefits our entire diocese, such as the Seminarian Education Endowment or the Priest Retirement Endowment.
This special incentive is called the “Montana Endowment Tax Credit.” Simply speaking, it is a credit which lowers your Montana tax bill, much more than a deduction will. The Montana Endowment Tax Credit is equal to a whopping 40% of the charitable deduction of a planned gift to a permanent endowment fund. (Businesses receive a 20% credit for outright gifts to endowments.) The credit is limited to $10,000 per taxpayer per year.
IMPORTANT: Unless the 2019 legislature extends it, this generous tax credit will expire at the end of 2019. So, for Catholics who want to support their parishes and/or our diocese, this is a very good time. You can possibly qualify for the Montana Endowment Tax Credit before year-end.
To take advantage of this credit in 2018: You may use the envelope attached to this issue of The Harvest. Or, call the Foundation at (406) 315-1765 or send an email to info@catholicfoundationmt.org. We will be happy to help you learn more and, if you are interested, make a gift that capitalizes on this generous tax credit and helps build a strong and healthy future for the Catholic Church!
Submitted by Judy Held
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