***BREAKING NEWS: The IRA Charitable Rollover has been passed by Congress, and signed into law by President Obama. Click HERE now for more information and an extended article.
The IRA Charitable Rollover is permanent law!
Friday, December 18th, 2015, was a historic day in American philanthropy. Congress passed, and President Obama signed, the IRA Charitable Rollover law. This law presents huge opportunities for nonprofits and the donors who fund them.
What does this mean?
The IRA Charitable Rollover allows individuals aged 701⁄2 and older to donate up to $100,000 from their IRAs directly to charities, tax-free.
I break it all down for you.
Learn all about the IRA Charitable Rollover law, with an extended article and video, including case studies.
Sign up now for free and instant access! Click HERE now for more information and an extended article.
40% off! If this sign were up at your favorite store, it would definitely get your attention.
Charitable gifts made during lifetime are generally preferable to charitable gifts made by will, for fairly simple tax reasons.
A charitable bequest is deductible for federal estate tax purposes, but is not deductible for income tax purposes.
A gift made during lifetime is out of the donor’s estate for estate tax purposes, but also provides the donor with a deduction for income tax purposes.
Thus, for donors in 40% combined federal-state income bracket, a charitable gift during lifetime is 40% less expensive than a similar gift during will.
I work with Iowa nonprofits, and the donors who fund them — more here. But today, Friday, is perhaps a particularly good reminder about the importance of charities and charitable giving.
My favorite hour of the week happens on Friday — from 9 a.m. to 10 a.m., Iowa time. Every week the great Tom Ashbrook of NPR‘s On Point summarizes the news of the week. It’s just a great news show, and especially on Friday, as it catches me up on anything I’ve missed during the week.
Later today, Monica and I will walk down from our new place to Fry Fest, to join everyone in a huge pep rally. Whether you are a Hawkeye, or a fan of another team, the kick off of a college football season is so much fun!
Gordon Fischer Law Firm, P.C. is dedicated to promoting and maximizing charitable giving in Iowa. Gordon can be reached by phone at 515-371-6077; by email at firstname.lastname@example.org; and through his website at www.gordonfischerlawfirm.com.
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