Southwestern Magazine | Fall 2020

Make your giving go further in 2020 The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, which the president signed into law on March 27, provides more than $2 trillion in relief touching nearly every corner of the U.S. economy. A few key provisions may be beneficial to you as you consider supporting Southwestern University. WE’RE HERE TO HELP. The CARES Act is comprehensive and includes numerous provisions that could benefit you financially. Consult your advisors about these provisions, and contact the Southwestern University Development Office at 512.863.1485 or by email at pereza@southwestern.edu if we can help you with any gift-planning opportunities before December 31, 2020. Read more about the charitable-giving incentives in the CARES Act at www.southwestern.edu/cares-act. Planned Giving $300 CHARITABLE-GIVING DEDUCTION Deduct up to $300 for charitable gifts to SU in 2020, in addition to the standard deduction. INCREASE IN ITEMIZED DEDUCTIONS Deduct donations up to 100% of your 2020 adjusted gross income for cash gifts to charity. IRA GIFTS ARE STILL POSSIBLE If you’re 70 ½ , you can still make a qualified charitable distribution from your IRA.