Consider Planned Giving
As the year closes, many of us are considering our taxes and year end contributions. But are you aware that there is a way for you to make a meaningful gift to support a worthy cause, utilizing your IRA to take your required minimum distribution and skip the tax implications —it’s called an IRA charitable rollover.
- You can avoid taxes on transfers up to $100,000 from your IRA to support a worthy cause.
- You can reduce your taxable income even if you don’t itemize deductions.
- You can make a gift that is not subject to the 50% deduction limits on charitable gifts.
- You can use your IRA rollover to make payments on pre-existing pledges.
For more information on tax tips like this, contact Patti Dalen at firstname.lastname@example.org
At the Northern Star Council, we have many helpful resources for you to learn about financial planning, tax savings, health tips and more. It is as easy as signing up for our monthly Gift Legacy eNewsletters, downloading our Wills Guide or visiting our Planned Giving website.