Coming Up
A Plaid Christmas
Dec. 8-10 & 11
Many Raindrops Make an Ocean
Small Ways You Can Help LTC
Did you know you can help raise money for LTC....just by shopping? It's true! For every item purchased online, Amazon will donate a portion of the proceeds back to LTC! It's quick and easy to sign up, so get on board today and start raising money for LTC! (And get yourself something nice in the process....You earned it!). For more information, click here.
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Kroger will also donate to the Lebanon Theatre Company, every time you shop at Kroger! It will take only a few minutes to sign up using your Kroger Plus Card. If your card isn't already registered, you will need to do that first. Then join the Kroger Community Rewards (all of this is free and does not cost you any of your fuel rewards!) The number for Lebanon Theatre Company is 82671. Once you do this, every time you shop at Kroger, Kroger will donate to the Lebanon Theatre Company! If you need assistance, email us LTC@ltcplays.com or stop at your Kroger store customer service desk.
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Charitable Contributions & Additional Tax Benefit for You:
A New Above-the-Line Charitable Tax Deduction
Thank you, as always, for supporting the Lebanon Theatre Company. You may be aware that Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020.
The CARES Act has made giving easier with expanded incentives for non-profits. New donor-centered tax benefits and impactful ways to support your theatre company are here.
There are new deductions: up to $300 per taxpayer ($600 for married couples) in charitable contributions.
The CARES Act has made giving easier with expanded incentives for non-profits. New donor-centered tax benefits and impactful ways to support your theatre company are here.
There are new deductions: up to $300 per taxpayer ($600 for married couples) in charitable contributions.
Plus, the most exciting news is that this new deduction is for cash gifts that go to a public charity, such as the Lebanon Theatre Company. The old deduction rules apply to gifts to private foundations only. If your assets are substantial enough that you can give more than your income this year, you won’t lose the deduction for the excess amount. You can use it next year, as has always been the case. These new limits do not apply to gifts of appreciated stock or donations directly to a DAF.
Required Minimum Distributions (RMD) have been waived and extended in 2020 for most donors: RMDs that would normally start in 2020 do not have to start until 2021, including distributions from defined benefit pension plans and 457 plans. This change will dampen somewhat the incentive for a donor to make a qualified charitable distribution (QCD) from their IRA in 2020.
The Takeaway – donors directing a QCD to a charity this year (up to $100,000 per individual) will still reduce their taxable IRA balance. This allows taxpayers, itemizers, and non-itemizers alike to direct gifts from their IRA to charities in a tax efficient manner.
The inclusion of expanded charitable giving incentives is a critical acknowledgement by Congress that the work of nonprofit arts organizations like Lebanon Theatre Company are essential services. A cultural beacon for the community.
Required Minimum Distributions (RMD) have been waived and extended in 2020 for most donors: RMDs that would normally start in 2020 do not have to start until 2021, including distributions from defined benefit pension plans and 457 plans. This change will dampen somewhat the incentive for a donor to make a qualified charitable distribution (QCD) from their IRA in 2020.
The Takeaway – donors directing a QCD to a charity this year (up to $100,000 per individual) will still reduce their taxable IRA balance. This allows taxpayers, itemizers, and non-itemizers alike to direct gifts from their IRA to charities in a tax efficient manner.
The inclusion of expanded charitable giving incentives is a critical acknowledgement by Congress that the work of nonprofit arts organizations like Lebanon Theatre Company are essential services. A cultural beacon for the community.
This is deduction is available only to people who take the standard deduction (for taxpayers who do not itemize their deductions). It is an “above the line” adjustment to income that will reduce a donor’s adjusted gross income (AGI), and thereby reduce taxable income. It is calculated by subtracting the amount of the donation from your gross income. Note that a donation to a donor advised fund (DAF) does not qualify for this new deduction.
There are new Charitable Deduction Limits: As part of the bill, individuals and corporations that itemize can deduct much greater amounts of their contributions. Individuals can elect to deduct donations up to 100% of their 2020 AGI (up from 60% previously). Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%.
There are new Charitable Deduction Limits: As part of the bill, individuals and corporations that itemize can deduct much greater amounts of their contributions. Individuals can elect to deduct donations up to 100% of their 2020 AGI (up from 60% previously). Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%.
This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.
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Backstage at LTC
Ever wonder how a production comes together? The cast and crew of our productions of It's a Wonderful Life: Live Radio Play and Boeing, Boeing, created a behind-the-scenes video log as they prepared for the productions.
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LTC Interviewed by ExposureLearn about The Lebanon Theatre Company in this August, 2017 episode of Exposure, brought to you by The Arts Council of Lebanon, Ohio. Click on the Exposure image to go to the video.
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Want to Volunteer?
You can help community theatre grow by becoming involved with Lebanon Theatre Company in a variety of a ways, beyond being a part of our faithful audience. You can become a member of LTC, support LTC as a Patron, and/or volunteer your time in a variety of ways. Volunteer opportunities include helping actors with makeup, constructing and painting the set, ushering, or putting up posters. If you are interested in participating with LTC in any of these ways, please click for information on contacting us. And visit our Membership page for additional info.
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Keep Live Theatre AliveIn addition to just becoming involved in one of our productions, there are financial ways you can support the Lebanon Theatre Company....
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Meet Our SponsorsSponsorship from local businesses is critical to LTC's success. Meet this season's sponsors and learn how your business can become a sponsor....
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When is the next...?When is the next production, rehearsal, or board meeting? In addition to our Current Season page, we do our best to keep our calendar up to date....
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