Reminder - Donate From Your IRA Tax-Free!
By Bob Mackey, Senior Vice President, Falcon Insurance Agency (EAA Aircraft Insurance Plan)
November 7, 2013 - The Pension Protection Act continues this year. If you are age 70-1/2 or older, you can make tax-free charitable gifts now using funds from individual retirement accounts (IRA). Donating through your IRA assets not only supports your favorite causes, but can also provide personal financial benefit.
You may contribute up to $100,000 directly from your IRA this way if:
- You are 70-1/2 or older at the time of the gift
- You transfer the funds outright to one or more qualified charities
- You make your gift by December 31, 2013
It is always wise to consult your tax adviser if you are contemplating gifts under the extended law. For more information, visit EAA's planned giving website or feel free to contact EAA Development at 800-236-1025 or via e-mail.