Make a Gift Tax-Free with an IRA Donate to Help Animal Care Sanctuary and Save On Taxes at the Same Time If you are 70½ years old or older, you can take advantage of a simple way to benefit Animal Care Sanctuary and receive tax benefits in return. You can give any amount up to $100,000 per year from your IRA directly to a qualified charity such as ours without having to pay income tax on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short. The most important stipulation of donating from your IRA is that you must not withdraw your gift into another one of your personal accounts. Your gift must be transferred directly from the custodian of your IRA to Animal Care Sanctuary. SECURE Act of 2019 Although the SECURE Act of 2019 raised the age for the required minimum distribution from 70.5 to 72, the rules regarding the Qualified Charitable Distributions have not changed. An IRA owner at age 70.5 or older can still give by making a qualified charitable distribution from an IRA. In other words, a 71-year-old IRA owner can make a qualified charitable distribution from an IRA even though a distribution may not be required at that age. Tax Benefits For those who are eligible (age 70.5+), a qualified charitable distribution from an IRA is a tax-wise giving strategy. The QCD amount is not counted as income, which means no tax is due. How to Get Started •
Contact Trish Callahan Murzyn at 610-331-4421 or tcallahan@animalcaresanctuary.org for more information on an IRA gift to ACS.
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Seek the advice of your financial advisor.
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Ask your IRA administrator about making a direct transfer to Animal Care Sanctuary or have the administrator send a check from your account to us. To be tax free, the donation must go directly from your account to ACS without passing through your hands.