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IN CRISIS CALL: 1.800.273.8255 |
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SUPPORT SPEA |
IRA Charitable Rollover On October 3, 2008 former President Bush signed the Emergency Economic Stabilization Act of 2008, which includes an extension of the IRA Charitable Rollover, allowing taxpayers to make current outright gifts of retirement assets. The new law provides that through the years 2008 and 2009, an owner of a Traditional or Roth IRA, who is age 70 1/2 or older, may instruct the Plan Administrator to distribute directly to a public charity, such as Suicide Prevention Education Alliance of NE Ohio, up to $100,000 without the distribution being included in taxable income, and that the distribution will count toward the IRA owner’s mandatory withdrawal amount. The primary benefits of the direct IRA Rollover to a qualified charity are that: While the donor does not receive a charitable deduction, neither is the transfer to charity treated as an income distribution to the donor; thus the donor enjoys the equivalent of a charitable deduction by avoiding the tax that would ordinarily have been due on an IRA income distribution, a benefit to itemizers and non-itemizers alike.
Distribution to donor advised funds and supporting organizations are not eligible. Employer-sponsored plans, such as a Simple IRA, 401(k), or 403(b), are not qualified distribution sources. Also note that IRA rollovers may be includable in a donor’s income for state and local tax purposes and may not earn an offsetting charitable deduction, depending on state and local law. Consult your attorney, accountant, or financial advisor. For questions or information about how you might make a gift to SPEA, please contact: Ms Pat Lyden |
In most cases, the depression that so often precedes suicide is both recognizable and treatable. In Cuyahoga County In Geauga County In SUMMIT County IN CRISIS SI USTED ESTÁ PENSANDO EN |
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