Thursday, September 5, 2013

Consider making a charitable gift from your IRA

The tax law signed last January extended the tax break that allows contributions of up to $100,000 from a traditional IRA to a qualified charity. Taxpayers aged 70 or older can make a distribution directly from an IRA to a charity. The amount donated is not included in the taxpayer's gross income and is considered part of the required minimum distribution for the year.

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