IRA Gifts Extended Through 2011!
Congress has extended through 2011 the legislation which allows donors to make tax-free gifts from their IRA Accounts. If you are age 70½ or older and do not need all or a part of the distributions from your IRA, you can make tax-free gifts totaling up to $100,000 in 2010 and 2011 from your traditional IRA to Children of Promise until December 31, 2011. If your spouse has a separate IRA account, each of you may make a gift up to $100,000. While you cannot claim a charitable deduction for IRA gifts, you will not be required to pay federal income tax on any amounts you distribute to Children of Promise, and your gift amount will reduce your taxable estate.
If you qualify by age, your annual required distribution can be made directly to Children of Promise. I have sample letters to send to your IRA provider, and would love to be helpful in any way I can.
This is another way you can support the total ministry of Children of Promise.
Contact me and I will explain the steps necessary to make this happen, and answer any questions you might have.
· 800-848-2464, ext 2114
Dr. Charles G. Wanner (Chuck)
Children of Promise
This information is intended to provide general gift planning education. Children of Promise is not qualified to provide specific legal, tax or investment advice, and should not be looked to or relied upon as a source for such advice. Consult with your own legal and financial advisors before making any gift.