Saturday, November 2, 2013

Tax Reminder

The American Taxpayer Relief Act of 2012 (ATRA) extended the qualified charitable distribution provisions for 2012 and 2013. It is an opportunity for church members, age 70 ½ or older, who own an IRA to direct gifts up to $100,000 to the church from the IRA without reporting the transfer as income. (This contribution has to be TRANSFERRED DIRECTLY FROM THE IRA TO THE CHURCH.) As always, consult your tax advisor if you have questions.

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