Pride in our profession — and tax-savvy ways to show it
ACPHS alumni share certain traits, no matter what their age or focus: their intelligence, their drive, their compassion and empathy. But one thing that really stands out is their pride: ACPHS alumni and students are proud to be pharmacists and health scientists. This pride positively influences every part of their studies, and their professional careers after their time at the College.
Alumni pride in their professions is especially important when looking at the past year and a half. The pandemic proved the necessity of pharmacists, health care professionals and scientists in bringing us back to this “new normal.” From developing public health protocols to the creation of COVID-19 treatments and vaccinations, scientists around the world — including many ACPHS alumni — played an instrumental role in the fight against the pandemic.
The confidence and passion that our students show — and our faculty’s pride in them — has never faded. But things have changed in Albany and for colleges around the country, and this moment presents a unique opportunity to renew your commitment to the next generation of health and science leaders.
One important legislative change that may be advantageous for your giving is new tax benefits for married folks. For the upcoming year, a married couple can get greater charitable contribution deductions, up to 100 of your AGI. This means that you can deduct up to $300 per tax return of qualified cash contributions if you take the standard deduction. For 2021, this amount is up to $600 per tax return for married couples filing jointly. If you are curious about other tax advantages for married couples, you can learn more here.
Why should you care about these changes? These tax benefits present different ways you can support generations of leaders who will go on to solve public health crises and keep our communities safe — while supporting your own finances. By using them, you can show your pride in your profession and your alma mater, and net some great savings to boot.
And for those of you who own appreciated stocks, we encourage you to look into donating them to ACPHS. Many of our alumni have recently made the switch to stock donations to save on two types of taxes and have a greater impact on our students. If you’re interested, this free resource walks you through the benefits and helps you access our transfer information.
For more information, contact Marcy Stengel, Director of Development at marcy.stengel@acphs.edu.