It is better to give a tax-deductible gift than receive a hefty tax bill in April; Phone-A-Thon update
This time of year, it is better to give a tax-deductible gift than receive a hefty tax bill in April. Your gift to Siena Heights is tax-deductible and many states have tax credits on top of the regular charitable deduction.
In Michigan, the tax credit is 50% of the charitable gift up to a maximum of $100 per person or $200 per couple. In the following example, a single person gives a $100 gift to Siena Heights.
Example: Cash Gift of $100.00
-28.00 Tax Deductible Savings (28% Bracket)
-50.00 Michigan Tax Credit*
$22.00 Net Gift Cost
Subtracting the 28% tax bracket savings and the 50% Michigan Tax Credit, that $100 gift to Siena Heights only cost the donor a net of $22!
This is a great time to get your finances in order before the end of the calendar year. Your company may also offer a matching gift program as well. Either way, the time to start thinking about your tax implications is now.
What better way to help out a charity and help defer tax penalties at the same time? Contact your tax professional today or call the Siena Heights Advancement Office at 1-800-693-0506. You’ll be glad you did!
*Always consult your tax professional for information regarding your personal situation and your state’s guidelines.
Calling All Saints - UPDATE
Siena Heights University’s Fall Phone-A-Thon is in full swing. As of Nov. 19, Siena students have generated $50,582 in pledges from 975 donors – 251 of which were new donors. Each evening, student callers contact Siena’s parents, friends, and alumni in order to raise funds for the university’s greatest needs such as student scholarships and financial aid.
We are so very grateful to those of you that have taken the time to speak with our student callers. Our students thoroughly enjoy speaking with friends and alumni who often share stories of their time here at Siena Heights. This is such an important exercise in showing current students the importance of giving back to their alma mater. Thank you for your support!
Our Phone-A-Thon will close during the Thanksgiving holidays but reopen for a final week of calling starting Monday, Nov. 27th. The last call session will be Thursday, Nov. 30th. If we weren’t able to connect with you during this Phone-A-Thon, you can always contact the Advancement Office at 1-800-693-0506 or give online by going to http://www.sienahts.edu/GivingToSiena.aspx .
Again, thank you for your support of Siena, and GO SAINTS!