If you are 70½ years old or older, you can take advantage of a simple way to benefit Starr King School for the Ministry and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money.
This law no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
It is wise to consult with your tax professionals if you are contemplating a charitable gift under the extended law. Please feel free to contact Jessica Cloud at 571-438-8333 or jcloud@sksm.edu with any questions you may have.
