|
|  |
| |
New Law for 2007 Permits Tax-Free IRA charitable rollovers if you are age 70 ˝ or older
| | |
Recently, Congress passed a law allowing taxpayers aged 70 ˝ or older to contribute up to $100, 000 tax-free from their IRAs to a public charity like Areyvut, tax-free. Further, this donation from your IRA will count toward your Required Annual Distribution.
- Lower Tax on Social Security: A charitable donation made from your IRA to Areyvut can reduce the amount of Social Security income that is taxable.
- Effectively Increase Your Giving Limit: A donation made directly from your IRA to Areyvut permits you to give “over & above” the usual deductible amount of 50% of annual income-up to $100,000 in 2007.
- Save Taxes on Lower Reportable Income: A donation made directly from your IRA to Areyvut may lower your reportable income and save taxes.
- Standard Deduction Benefit: For those who do not itemize on their tax return, a donation made directly from your IRA to Areyvut will be excluded as income on your return, and therefore may reduce your taxes.
Your IRA custodian or trustee must transfer your IRA gift directly to Areyvut, the entity that is accepting qualified IRA tax-free contributions under this new law. Your donation will be used for the purpose that you have chosen.
|
|
 |
|
| SUPPORT AREYVUT! |
|
 |
|
The theme for May is:
Saving Life | | | to learn more click here |
|
|
|
|
|
|
