End of year giving.

End of year giving. At the end of the year, many people are searching for ways toreduce their taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. . As a 501(c)(3) corporation, contributionsto the MTNA MTNA Music Teachers National AssociationMTNA Middle Tennessee Nursery Association (McMinnville, Tennessee)FOUNDATION FUND may be tax deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). . Contributions to thefund may be made by phone at (888) 512-5278 or U.S. Mail to MTNA, 441Vine St., Ste. 3100, Cincinnati, OH 45202-3004. Also, don't forgetthat many corporations will match employee donations to a nonprofitorganization Nonprofit OrganizationAn association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well.Notes:Examples of non-profit organizations are charities, hospitals and schools. . MTNA encourages you to check with your employer or yourspouse's employer to see if such a gift-matching program is inplace. This small step can make a great difference to the FOUNDATIONFUND.