Church Support

Church Support: 

While the church activities are suspended by our Diocese, we still need the ongoing financial support from our Parish family. We have salaries and bills to pay; as well as property to maintain. Please continue your monthly support of Sacred Heart and St. Joseph O'Brien County.  There are several options to send in your donation.

Sacred Heart

1. Mail to the Parish office: Sacred Heart Church, PO Box 817, Spencer,IA 51301
2. Set up an automatic withdrawal directly from your bank account.  Complete this form: Automatic Withdrawal Form and either mail to the Parish Office or scan and email to: sbaxter@spencersacredheart.com

3. Pay via PayPal or debit/credit card. 
 



St. Joseph O'Brien County

1. Mail payments to: 
St. Joseph O'Brien County Parish, PO Box 555, Sanborn, IA 51248

———————————————————————————————————————— 

New Tax Rules for Charitable Giving

Waiver of required distribution rules. Required minimum distributions that otherwise would have to be made in 2020 from defined contribution plans (such as 401(k) plans) and IRAs are waived. This includes distributions that would have been required by April 1, 2020, due to the account owner’s having turned age 70 1/2 in 2019.

Charitable deduction liberalizations. The CARES Act makes four significant liberalizations to the rules governing charitable deductions:

(1) Individuals will be able to claim a $300 above-the-line deduction for cash contributions made, generally, to public charities in 2020. This rule effectively allows a limited charitable deduction to taxpayers claiming the standard deduction.
(2) The limitation on charitable deductions for individuals that is generally 60% of modified adjusted gross income (the contribution base) doesn’t apply to cash contributions made, generally, to public charities in 2020 (qualifying contributions). Instead, an individual’s qualifying contributions, reduced by other contributions, can be as much as 100% of the contribution base. No connection between the contributions and COVID-19 activities is required.
(3) Similarly, the limitation on charitable deductions for corporations that is generally 10% of (modified) taxable income doesn’t apply to qualifying contributions made in 2020. Instead, a corporation’s qualifying contributions, reduced by other contributions, can be as much as 25% of (modified) taxable income. No connection between the contributions and COVID-19 activities is required.
(4) For contributions of food inventory made in 2020, the deduction limitation increases from 15% to 25% of taxable income for C corporations and, for other taxpayers, from 15% to 25% of the net aggregate income from all businesses from which the contributions were made.