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Rotary Club of Des Moines Foundation Gifts2016 – 2017 Rotary YearName: _________________________________________________________Please mark your choice below.I’d like to give my tumbler (cup) money for 2016-17 as a lunp sum of $150 and receive a tax receipt.Add $150 to my dues and I’ll pay as I always do (all $150 will be on my first quarter bill).I will write a check to RCDM Foundation for $150.I will pay my $150 by credit card by using Paypal (you do not have to have a Paypal account). The Paypal link is available in the weekly e-bulletin margin. Click on the Paypal logo and pay $150.(I understand this will NOT affect my normal $25/quarter donaltion made through my dues)I like things just the way they are right now. Don’t change a thing. I will continue to put money in the cup when I attend each meeting.Potential Combined Value of the Federal & State Tax Deductions or Credits for the $150 gift are as follows:Federal Income Tax BracketsFederal Tax RateValue of Federal Tax Deduction*State of Iowa Tax BracketValue of State of Iowa Tax Deduction*Value of Federal & State Tax Deductions*Single TaxpayerMarried Taxpayer (filing Joint Return)Income from:Up to:Income from:Up to:–9,274–18,54910.00%15.006.12%8.2623.269,27537,64918,55075,29915.00%22.508.98%11.4533.9537,65091,14975,300151,89925.00%37.508.98%10.1047.6091,150190,149151,900231,44928.00%42.008.98%9.7051.70190,150413,349231,450413,34933.00%49.508.98%9.0258.52413,350415,049413,350466,94935.00%52.508.98%8.7661.26415,050and above466,950and above39.60%59.408.98%8.1467.54For example, if you contribute $150 and are in the 25% federal tax bracket, the potential combined value of your federal & state tax deductions would be $47.60 or about 31.7% of the $150. *The Value of the Federal & State Tax Deductions are calculated using the assumption that you itemize deductions and that your State level deduction for Federal Tax Paid is adjusted (reduced) for the Federal Charitable Deduction. ................
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