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THREE SCORE AND TEN, PLUS .5? READ ON... David Duncan If you’re at least 70.5 years old and have a traditional Individual David Duncan serves as OCC’s Retirement Account (IRA), then Planned Giving Specialist. you probably know about the required minimum distribution (RMD) rules. Once you turn 70.5, you’re required to take a specific minimum amount from your IRA each calendar year. Whether or not you need or want the money doesn’t matter. Why the RMD? Because the income you are required to receive is taxable to you! Now, if you really don’t need the money, but must receive it and pay taxes on it…what can you do? Are there any alternatives? Here are two options to consider: First, if you itemize your tax deductions, then you could give the RMD amount you receive to a qualified 501(c)3 charity. The subsequent charitable tax deduction may offset the income,* and you’ll realize no net increase of income taxes. Second, you could have your RMD sent directly to Ozark (or another ministry) via the IRA Charitable Rollover. With the rollover, you won’t have to claim the RMD amount as income for tax purposes. Either way, you avoid the tax on income you don’t need, and you’re helping one or more of your favorite ministries! One last thing: if you haven’t yet taken your RMD for 2016, time is running short to use the IRA Charitable Rollover. Let me know if I can help. Feel free to contact me at dduncan@comissionfoundation.org or 417.437.4774. To learn more about the IRA Charitable Rollover, go to comissionfoundation.org. *Cash gifts are deductible up to 50% of adjusted gross income. Tribute Gift Form In Loving Memory Of…
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In Honor Of… Name
Given By:
Enclosed is my gift of:
Name Address City/State/Zip
Please send acknowledgment to: Name Address City/State/Zip Use separate paper for additional names.
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TO CONNECT
TRIBUTE GIFTS MAY 27 - SEPTEMBER 23, 2016
Memorial Gifts:
James Barnett John Boatman Russel & Mary Crisler Paul Enabnit, Sr. Dennis D. Glasgow Willis Harrison Judy Lanham Richard Lankford Peggy G. Loving Barbara Lucietta Connie Mieir Amy Lanette Mintz Nancy Ellen Puckett Gary Reed George Roane Bryan & Amber Rowoth Burl & Bernita Shoemake Opal Shrum Wayne Smith Elaine Wakeman Ray Wheeler Charles & Dorothy Wittenborn
Honor Gifts:
Herbert Casteel Bud Clapp Larry & Gloria Conaway Scott & Julie Ferguson Wilbur Fields Ty & Rene’ McCarty Sergio Rizo T. Meredith Williams
E. Carol Courbot Mrs. Gail Boatman Mary Lou Harden M/M Kenneth Lake Dr. Patrick H. Johnson M/M Michael D. Lee Mr. David Mark Lanham M/M Paul T. Butler Dr. Patrick H. Johnson M/M Gail Miller Mr. William H. Mieir, Sr. M/M Merle E. Mintz M/M Dallas W. Puckett M/M Larry Catron M/M Francis Copeland M/M Don Dean Marilyn Harper The Janice Hicks family Mrs. Evelyn Horn Mrs. Patty Roane Mrs. Kathleen Seward M/M Paul A. Rowoth M/M Douglas Miller C. Theresa Nobles M/M Larry Catron M/M Daniel L. Stassin M/M Raymond Anderson College Heights CC (Joplin, MO) M/M John T. Graf Mrs. Coralynn Nelson M/M Daniel R. Harlow M/M Timothy L. Harlow M/M Jay Taylor M/M Roy S. Wheeler M/M David Wittenborn
M/M Jordan B. Casteel M/M William G. Lange Verla Lea Brown Central CC (Claremore, OK) M/M Kenneth L. Conaway Glory J. DeGroat M/M Grady N. Lowrey M/M Clark A. Waggoner, Sr. M/M Al Riddle M/M William G. Lange Dr. & Mrs. Garland Bare Mr. Matthew Oswald M/M Larry D. Monroe