There are several ways to get involved with the SA+C!
Now is a great time to join as a member or make a donation, as we gear up for an exciting year, including CraftBoston on the Move, which includes curated visits with behind-the scenes access, and group get-togethers; CraftBoston on the Move Pop-Up Shops, artist calls for entry; artist grants; mentorship programs; and more. Join us, your membership or donation make a difference in our programs and our support of the maker and fine craft community!
Did you know? Massachusetts has a new charitable contributions deduction! It’s available to all taxpayers, whether or not you itemize deductions on your federal return. Just keep track of your contributions and report them on the state tax return you file in the first part of 2024. They’ll be deducted from your taxable income.
Did you know that anyone over 70 ½ who is required to take taxable distributions from their lifetime IRA’s can contribute to SAC and save taxes at the same time by having the custodian make the distribution directly to SAC? This is a win/win! You can support the Society of Arts + Crafts while saving on your taxes!
Here is more information:
Qualified charitable distributions
What is a qualified charitable distribution?
Generally, a qualified charitable distribution is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity. See Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) for additional information.
Can a qualified charitable distribution satisfy my required minimum distribution from an IRA?
Yes, your qualified charitable distributions can satisfy all or part the amount of your required minimum distribution from your IRA. For example, if your 2018 required minimum distribution was $10,000, and you made a $5,000 qualified charitable distribution for 2018, you would have had to withdraw another $5,000 to satisfy your 2014 required minimum distribution.