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News

Friday October 20, 2017

Exciting events are happening at The Salvation Army Metropolitan Division
Our News
Thank you for your interest in The Salvation Army Metropolitan Division. Our hope is to serve you and your family with helpful information.
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Flu Shots for Seniors
Savvy Living
What can you tell me about the flu shots for seniors? I became ill last winter after getting a standard flu shot and am...
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Will Tax Reform Include New Charitable Deductions?
Washington News
As the House Ways and Means Committee staff continues to draft a massive tax reform bill, a new proposal could expand charitable giving. This week, Rep. Mark Walker (R-NC) introduced the Universal Charitable Deduction Act (UCDA). The UCDA proposes allowing "above the line" charitable deductions in an amount equal to up to one third of the new standard deduction. If the standard deduction is increased from $12,700 for married couples to a proposed level of $24,000, then couples who take the standardized deduction could also deduct up to $8,000 in charitable gifts. The deduction limits are lower for single persons, but they also would be able to take both the standard deduction and charitable gift deduction. With the existing standard deduction, about 30% of taxpayers itemize and may deduct cash gifts each year up to 50% of adjusted gross income. However, the proposed tax bill would...
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IRA and 401(k) Designated Beneficiary Options
Personal Planner
Each year, IRA and 401(k)s are subject to required minimum distributions (RMDs). Because the distributions start at just...
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