TAX LAWS ON CHARITABLE GIVING WILL CHANGE IN 1987

More than ever before, we encourage you in this newsletter to give to F.A.R.M.S. We do not want any of our participants to be dropped off our mailing list. We hope that donating to FA.R.M.S. will become a significant and rewarding part of your annual giving.

This year is a good time to give. Our needs and opportunities are greater than ever before. Numerous research projects need additional support for completion.

Your tax needs may also be a factor, making this an opportune time to make a charitable contribution, since the federal income-tax laws with respect to charitable giving will change in 1987.

For example, the charitable deduction for non-itemizers will expire after December 31, 1986. If you do not itemize deductions, a donation this year will help you more tax-wise than it will next year. Donations can be made on your credit card and are deductible when charged, even though you pay later.

For itemizers, the personal-income-tax rates will be going down dramatically beginning next year. Therefore, deductible contributions made this year will be worth more this year to a high-bracket taxpayer than ever. Many taxpayers are considering the use of charitable lead trusts in 1986 to accelerate their contributions and make them deductible on this year's tax return. The rules will also tighten up further regarding donations of appreciated property.

If we can be of any help to you in planning your annual giving or your estate, please feel free to drop a letter to Jack Welch or Paul DeBry, officers of F.A.R.M.S. Paul is a CPA and Jack is a tax lawyer. F.A.R.M.S. is a 501(c)(3) publicly supported tax-exempt organization (EIN 95-3442860).