American Council on Gift Annuities - 19 Decemeber 2014
from an email newsletter they sent out.
Today, President Barack Obama signed legislation to reinstate
retroactively the IRA charitable rollover. While the timeline for making IRA
charitable rollover gifts is tight (the reinstatement expires January 1, 2015),
it is not too late to let your donors know that they still have time to take
advantage of this gifting opportunity. The provision allows each IRA owner who
is 70 1/2 or older to make direct transfers of up to a total of $100,000 per
year to one or more qualified charities. The IRA charitable rollover is tax-free
and not included in adjusted gross income. For more information and planning
thoughts, please watch the video presentation from Emanuel J. Kallina II, J.D.,
LL.M., Managing Member of Kallina & Associates, LLC and ACGA Board
member.
As a reminder, the IRA rollover provision excludes IRA transfers
to fund charitable gift annuities.
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