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Tax Law Changes
An Important Year-End Message
from the Finance Committee
Dear Fairlington Friends:
New Tax Law . As you probably know, The Tax Cut and Jobs Act was signed into law on December 22, and most provisions take effect January 1, 2018. Every taxpayer will see changes in the tax rate imposed on your income and each taxpayer must assess how the new law will impact you. Here is a link to a Washington Post article highlighting actions that taxpayers may wish to consider prior to the end of 2017. https://www.washingtonpost.com/news/wonk/wp/2017/12/22/5-things-to-do-before-jan-1-to-lower-your-tax-bill/?utm_term=.43474e4b548d
Under the new tax law, the standard deduction will increase substantially. This means that if you choose the standard deduction in 2018 (in lieu of an itemized return), you won’t get any tax savings from your charitable contributions. If you plan on taking the increased standard deduction for 2018, consider making your 2018 charitable donations before the end of 2017 in order to take advantage of the current tax benefit for itemized returns.
We encourage everyone to ensure that you have fulfilled your 2017 giving pledge and to consider an extra year-end gift this week. Your generosity will be most appreciated! You can make you gift in person on Sunday. You also may send your gift by mail, or by online giving. See new instructions for online giving below. If you wish to dedicate your extra year-end gift to our upcoming building fund campaign or you wish to "prepay" a portion of your 2018 pledge to FUMC, please indicate on your gift that it is intended for the building fund or as prepayment of your 2018 pledge. If you have questions about year-end giving please email Randy Nuckolls, Chair of Finance at email@example.com or Roma Sexson, Church Treasurer at firstname.lastname@example.org.
New E-giving Website. The Finance Committee is pleased to announce the launch of a new E-giving website at Fairlington. We have recently transitioned to a new service provider, and the new FUMC E-giving site can be reached by clicking this link: FUMC new E-giving website. The website is “live” and available to process your one-time or recurring pledges and contributions. We encourage you to visit the website and provide any feedback or questions to our FUMC E-giving Coordinator, Stephen Ng, during Sunday worship or at email@example.com. As FUMC seeks to make better use of technology, more details will be forthcoming in the weeks ahead about expanded e-giving options, including giving via mobile app and via text message.
NOTE TO CURRENT E-GIVING PARTICIPANTS: In order to prevent your recurring contribution being withdrawn twice, before signing up on the new E-giving website it is highly encouraged that you log in at the old E-giving site and either delete/cancel your account or reduce your recurring contribution down to zero.
Randy Nuckolls, Finance Chair
Stephen Ng, Finance Vice Chair
Roma Sexson, FUMC Treasurer