Remember the IRA tax-free charitable transfer? This special gifting opportunity began in 2006, and after several extensions, Congress let it expire on December 31, 2013.
Under the regulation, individuals age 70 ½ or older are permitted to donate gifts from their IRAs to qualified charitable organizations, such as Salesian Missions, up to $100,000 in 2015, and each tax year going forward.
The amount you would give to Salesian Missions is excluded from your adjusted gross income -- making it tax-free. The amount also qualifies to be counted toward your annual minimum required distribution.
Salesian Missions can provide you with a letter and important instructions to share with your plan administrator. To receive this letter, or to discuss this very special gifting opportunity, please contact Joseph Tumolo, Stewardship and Mission Specialist at 610-653-7906, or [email protected].