Using Retirement Assets for Kingdom Purposes
Are you 70 ½ or older? Consider making a tax-smart IRA gift to New Life!
A Qualified Charitable Distribution (QCD), or IRA Rollover, is one of the most tax-efficient ways for generous donors to turn their retirement assets into an impactful gift. You can make a difference by initiating a QCD from your IRA today:
· The distribution must be made from a traditional IRA (not SEP or SIMPLE IRAs).
· You must be at least 70 ½ years of age when the distribution is made.
· You can donate up to $100,000 per year without including the distribution in your gross income.
· The distribution counts toward your annual required minimum distribution (RMD), when applicable. Note: RMDs have been suspended for 2020.
This giving opportunity benefits you and New Life at the same time.
Want to learn more? Get in touch with your IRA administrator today or contact Tammy Kocher, Executive Director, at email@example.com
or (612) 746-5664 for additional information.