Did you know that you can now donate up to $100,000 from your IRA to charity without incurring federal income tax or early withdrawal penalties?
In December 2010, the government signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, which provides a two-year extension of the popular IRA charitable rollover provision. For a limited time, this legislation allows individuals who are at least 70 ½ years old to make outright charitable gifts – up to $100,000 per person – from their traditional or Roth IRAs, federal income tax- free.
For more information, contact Arloa Sutter at (773) 722-1144 ext. 239.