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Some Potentially Helpful Tax Information

Are you over the age of 70 ½ and facing a Required Minimum Distribution from your IRA? A Required Minimum Distribution refers to the minimum amount you are required to withdraw from your retirement account(s) each year. Did you know you can give straight to your church with a Qualified Charitable Distribution and avoid the taxes on it?
A Qualified Charitable Distribution can satisfy part or all of your Required Minimum Distribution. Because Qualified Charitable Distributions don’t increase taxable income, both higher tax rates and phaseouts can be avoided. Normally, distributions from a traditional IRA are taxable when received. With a Qualified Charitable Distribution these distributions become tax-free as long as they're paid directly from the IRA to an eligible charitable organization. Qualified Charitable Distributions can be made from any or more than one of the IRA types (traditional, inherited, inactive SEP and inactive SIMPLE IRAs). You can give all or part of your Required Minimum Distribution.
Simply call the custodian of the IRA at the number listed on your statements and request that a distribution be made directly to our organization. The custodian will pay us directly. You will not be liable for income tax on this gift. In addition, you can count up to $100,000 per year in charitable giving towards your required minimum distribution.

You are encouraged to talk with your tax advisor to see if a Qualified Charitable Distribution is a good idea for you.

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