Tax Information


It is often said that the only certainties in life are death and taxes--two things we usually don't like thinking about.


Each year, our treasurer, Jack Anderson, a CPA with 55 years of experience, gives an update on changes to the tax code. Here is a link to a recent presentation:

2024 Tax Update


But it turns out that there are some tax advantages and benefits when you give to the church. Some people can itemize their charitable donations, but fewer and fewer thanks to the large standard deduction.


Even if you can't itemize, here are a few things you should think about:


Qualified Charitable Distributions (QCD's)

  • If you are over 70 and a half and have an IRA, a QCD can be a great way to give to charity and reduce your taxes!
  • A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.
  • Here's an article from Fidelity with more information.
  • Check with your investment and/or tax advisor to see if this can benefit you.
  • Call our treasurer or the church office if you have questions about how to do this at St. Philip's.

Giving Appreciated Stock

  • If you are under 70 and a half and have equities, another way to give to charity is to give stock directly to the church or another charity. If you have stocks that have appreciated in value, you can avoid paying capital gains tax by donating those stocks.
  • Be sure you don't sell them first and give the cash. Instead have your broker transfer them directly.
  • Questions? Call the treasurer or the bookkeeper for details. They can give you the information and form you need.

Donor Advised Funds

  • A donor-advised fund is like a charitable investment account for the sole purpose of supporting charitable organizations you care about. 
  • When you contribute cash, securities, or other assets to a donor-advised fund at a public charity, you can take an immediate tax deduction. Then those funds can be invested for tax-free growth, and you can recommend grants to any eligible IRS-qualified public charity.
  • The grants can be made in one year, or spread over several years.
  • Here's an article from Fidelity with more information.


  • There are other ways to make donations in ways that can benefit the church and you. Some of these are simple and some get pretty esoteric. You can name the church as a beneficiary of a life insurance policy, for example.
  • For more information about what might work for you, call your financial or tax advisor or speak to our treasurer.