Did You Know: IRA Charitable Rollover

Great news for more Great Futures!

New legislation has made permanent the IRA Charitable Rollover, meaning qualified seniors 70½ or older who have an IRA can now give with greater impact than ever before.

The IRA Charitable Rollover allows you to transfer up to $100,000 from your IRA directly to a nonprofit this year. You pay no taxes on the transfer and your gift counts dollar-for-dollar to support our important work. You can also count the gift against your required minimum distribution, which lowers your adjusted gross income (AGI) and may reduce your various income taxes for this and for future years.

Every day more kids pass through our doors to experience life-changing Club programs in a safe, structured and positive environment with highly-trained staff and caring volunteers. We need your help to continue to provide opportunities for Great Futures in Placer County. If you qualify for an IRA Charitable Rollover, please speak with your financial advisor to see if this opportunity is right for you.


 

Convert a burden to benefit.
If you are 70½ or older you are likely familiar with the IRA required minimum distribution (RMD). Each year, the IRS requires you to withdraw a certain amount from your IRA whether you need the funds or not. And you pay income tax on every distribution you take. For many IRA account holders, their RMD can be a significant and an undesirable annual burden, of both “tax and task”. Your tax burden might be reduced if you gift to charity directly from your IRA and your “task burden” can be reduced by directing your custodian to automatically send your RMD to one (or more) charity of choice on an annual or even monthly interval.

Reduce taxes, increase impact.
The IRA Charitable Rollover allows you to transfer up to $100,000 from your IRA directly to a nonprofit this year. You pay no taxes on the transfer and your gift counts dollar-for-dollar to support our important work. You can also count the gift against your required minimum distribution, which lowers your income and taxes in the year of withdrawal.

Speak with your financial advisor today to learn more. See how you can ensure Great Futures Start Here.

Questions?
Contact Randy at 530.889.2273 today.

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