Good news for those 70 ½  years and older: IRA gift transfers are possible again in 2015! Younger than 70? Contact us at (317) 788-7250 for other IRA giving strategies.

Congress has finally passed the permanent extension of the Charitable IRA Rollover provision (the Protecting Americans from Tax Hikes Act of 2015). A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to Overseas Council free of federal income tax. There may also be state income tax savings.

An IRA Gift Transfer can help those who: 

  • Reached their annual charitable deduction limits 
  • Are required to make minimum distributions 
  • Use the standard deduction 
  • Are carefully watching social security income limits

To make such gifts, it is important to NOT withdraw funds prior to a gift, but distribute them directly from an IRA to one or more qualified charities. For those with check writing privileges on their accounts, this may be the most efficient way to make gifts directly from an IRA.

For more Overseas Council Gift Planning information, contact Dan Folta at

Phone: (317) 788-7250

Email: info@overseas.org

 

We thank you for your partnership and appreciate your prayerful consideration of a world-changing gift to Overseas Council during this holiday season!