Bill Hecht

Charitable IRA Rollover Renewed for 2015

Did you know the charitable IRA roll-over has been renewed by Congress, retroactive to January 1, 2015? This is how it works:

If you have a traditional IRA, you are required to make yearly minimum distributions starting at age 70½ and pay tax on the withdrawals. With the extended charitable IRA rollover, a donation sent directly to the Land Trust from your IRA can count against the minimum required distribution you are required to take.

The roll-over allows you the freedom to give up to $100,000 from your account to the Land Trust, which will reduce your adjusted gross income, satisfy your minimum distribution, and demonstrate your clear commitment to local conservation.

Please consult your tax advisor or plan administrator to learn more about how both you and the Land Trust can benefit from the charitable IRA roll-over this year.