Charitable
Americans
now
have
a
tax-advantaged
way
to
give
to
the
causes
they
most
care
about.
You
might
use
it
to
establish
a
permanent
legacy
during your lifetime! But
the opportunity to take advantage
of this provision only lasts
through the end of this year,
when the law that created
it expires. more info The
Pension
Protection
Act
of
2006
allows
seniors
to “roll
over” IRA
assets
of
up
to
$100,000
per
year
into
their
favorite
charities,
free
from
tax.
Here
are
the
requirements:
• The IRA charitable
rollovers will be allowed
in 2006 and 2007 only
• You must be at least
70-1/2
• The gifts may not be
from any other type of retirement
plan.
You
must
donate
it
to
a
qualified
charity.
At
The
Community
Foundation,
for
example,
you
could
use
your
IRA
rollover
to
establish
or
add
to
an
existing
permanent
endowment.
You
can
choose
one
or
more
nonprofits
to
support
in
perpetuity;
pick
an
important
interest,
from
public
education
to
your
town,
or
leave
the
decision
to
the
Foundation.
Some
other
restrictions
and
guidelines
apply,
which
we
can
discuss
with
you.
For
more
information,
call
or
email
Mike
Tracey
at
(951)
684-4194
X116, mtracey@thecommunityfoundation.net |
