Do you want to support the Indiana Parkinson Foundation and save on your taxes?
- Are you over 70.5 and have an IRA? If so, you can likely donate up to $100k out of your IRA and pay no taxes on the distribution. It is called a qualified charitable donation (QCD). We know the RMD age is now 72 but 70.5 remains the age for this opportunity. Qualified Charitable Donations also can satisfy all or part of your Required Minimum Distributions. Check with your financial advisor and /or tax preparer for more details on the benefits.
- Do you have stocks, bonds, ETF’s, or mutual funds you would like to avoid paying capital gains on? You can transfer those right to our brokerage account as a donation. There are no capital gains for you and as a nonprofit we do not have to pay them either. If the amount you are donating is over the standard deduction, you may save even more on your taxes.
- Did you donate to us in 2021? If so, there is a special tax deduction that does not require you to itemize. The limit was $300 for individuals and $600 for couples. Make sure to let your tax preparer know you supported us!
If you have more questions on these ways to save on taxes and support our foundation but do not have an advisor or tax adviser, we can connect you to someone who can discuss it with you.
PALLIATIVE AND HOSPICE CARE
Do you know the difference between palliative and hospice care? Often, people are confused about these types of care. Paradigm Health describes the two types of care as follows:
Palliative medicine is specialized medical care provided in combination with curative treatment of serious illness. Palliative services are provided to patient in whatever setting they call home. It addresses symptoms and care management.
Hospice care concentrates on alleviating symptoms, pain and stress that come from a serious illness.
Also provided here are additional resources on these types of care. To reach Paradigm directly please call 317-753-6001. You can also visit their website at MYPARADIGMHEALTH.COM.
To learn more about the difference between Palliative and Hospice care, click download informational document.
Do you have questions about Palliative Care? Click to download document that addresses Palliative Care Questions.