GIVING FROM YOUR IRA STILL MAKES SENSE!
In 2006, Congress approved a two-year “IRA Charitable Rollover Option” that allowed certain seniors to give sizeable tax-free qualified charitable distributions (QCD) to their favorite charities. Since then, the law was repeatedly reinstated in two-year increments, until it became permanent in 2015.
As administrations have changed and tax laws have evolved, this truth has remained consistent: giving from an IRA remains the obvious choice for donors who qualify.
If you are at least 70 ½ years old, you can give up to $100,000 from your IRA (or $200,000 for couples) to Norfolk Christian and receive significant tax benefits in return.
Any gifts from your IRA…
allow you to give in a substantial way without affecting your cash flow,
reduce your taxable income (whether or not you itemize!)
can be used to fulfill any charitable pledges you’ve made, AND
will fulfill all or part of your required minimum distributions.
It’s a time-tested, win-win, tax-wise giving solution!