The charitable IRA rollover, enacted in 2006 and made permanent in December 2015, encourages older Americans to give out of their Individual Retirement Accounts. IRA owners age 70 ½ or older can give up to $100,000 a year from IRA income if the funds are paid directly to a charity. This allows the IRA owner to exclude this from income and make the donation without paying tax on the income.
No matter what your preference, the Whitefish Community Foundation is here to help you simplify your charitable giving for smart end of year tax planning. Remember, it is always advisable to engage a financial advisor before making final decisions.
Call Linda Engh-Grady for more information.
Whitefish Community Foundation