IRA Charitable Rollover Is Permanent!
ARE YOU LOOKING FOR AN EASY WAY TO HELP THE BOYS AND GIRLS OF BAPTIST CHILDREN'S HOMES?
If you are 70 1/2 or older, you can make a gift from you IRA account to help support the work of BCH this year and benefit.
YOU CAN BENEFIT FROM GIVING FROM YOUR IRA IF...
You wish to make a significant gift without using cash or other assets.
You do not need all or a portion of your IRA income.
You are paying too much in taxes and are looking to reduce your income.
You do not itemize deductions. Because a rollover gift can reduce your income and taxes, you can still benefit from charitable giving even as a non-itemizer.
You want to give over and above your normal giving this year. An IRA rollover gift does not count towards the 50% annual limitation on charitable gifts.
WHY MAKE AN IRA CHARITABLE ROLLOVER GIFT?
Congress has extended the IRA charitable rollover and made it permanent. An IRA rollover git is a way for you to support our children and families today without impacting your checking or saving account balance. Gifts made from your IRA (up to $100,000 per year) are not reportable as taxable income. They also qualify for your required minimum distribution (RMD) which can lower your income and taxes.
In addition, making an IRA rollover gift may prevent you from:
being bumped into a higher federal and/or state income tax bracket
hitting the phaseouts on your deductions and personal excemptions
falling into the Alternative Minimum Tax (AMT)
incurring the Affordable Care Act (ACA) tax
WHAT IF YOU HAVE A 401(K), 403(B) OR OTHER RETIREMENT PLAN?
This gift opportunity only works for IRAs. If you own another type of qualified retirement plan, you must first make a tax-free rollover of funds into an IRA. Then you can make the gift from the IRA account to support our work.
HOW CAN I MAKE AN IRA ROLLOVER GIFT?
Contact your IRA plan administrator to learn their procedure for making a rollover gift to charity. We can also provide you with a sample letter and assistance.
To learn more about the benefits of making an IRA charitable rollover gift, please contact Brenda Gray at firstname.lastname@example.org or call 336-474-1209.
** This information is not intended as tax, legal or financial advice. Gift results may vary. Consult your personal financial advisor for information specific to your situation.