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Give Retirement Assets

Are you 72 or older? You Have A New Giving Advantage!

Thanks to a smart new law, if you’re at least 72 you have the freedom to make tax-free distributions from your IRA directly to charity. So, if you are taking IRA distributions you don’t need or that force you into a higher tax bracket, you now have a surprisingly easy solution. This new giving advantage works for transfers up to $100,000.

The new Path Act made the IRA rollo9ver permanent and provides that individuals over 72 can transfer money directly from their IRA account to charity without having to receive it first as income. Because the transfer is directly from your IRA to charity, it is not considered income to you nor do you receive a tax deduction for the transfer.   A transfer from an IRA to charity also counts against the Minimum Required Distribution amount for that year from your IRA.

We have included a sample form that you can use to make a request to your IRA custodian(click here) to make a gift to charity and a sample form(click here) that you can use to inform the charity of your gift.

If you are under 72, designating a portion of your retirement assets to charity is the most economical way to give from your estate. Click here to get a form to change your Retirement plan beneficiary.

New Horizons Foundation

The New Horizons Foundation, founded in 1989, is a nonprofit, tax-exempt, public charity, organized and operating under the laws of Colorado for the purpose of helping individuals accomplish their charitable objectives in religious, educational, scientific, benevolent and health related activities.  Read More