As we begin the new year, we hope that you will consider these special opportunities when contemplating where to direct your charitable gifts.
The IRA Charitable Rollover allows taxpayers aged 70.5 years and over to contribute up to $100,000 from their IRAs directly to a public charity without being taxed on the withdrawal. Simply send a letter to request a distribution from your plan administrator:
Gifts of appreciated stock or mutual fund shares, for which you may be eligible for substantial tax benefits, including: exemption from capital gains tax on the gifted shares and an income tax charitable deduction for the full fair-market-value of the stock at the time of transfer up to 30% of your AGI.
If while in consultation with your personal financial adviser, you decide to give through either one of these opportunities, we encourage you to initiate the request as soon as possible. This will ensure that your gift is received in time to count for the tax year ending December 31st!