Give From Your Retirement Assets

 

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 rollover 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.

Contact our office (949) 946-6336 or email us by filling out the form below.