Did someone say rollover?
As you can imagine, the word “rollover” gets plenty of attention in a dog-friendly place like Guiding Eyes for the Blind. But we’re not talking about that kind of “rollover.” This time, we mean the IRA Charitable Rollover. On December 16, Congress retroactively extended the provision for 2014—and it will expire again at year-end.
Supporters age 70 ½ or over can make tax-free* gifts from their IRAs of any amount up to $100,000 through a direct transfer from their IRA custodians or trustees to Guiding Eyes. Gifts must be completed by December 31, 2014. As in past years, amounts transferred directly to Guiding Eyes qualify toward 2014 required minimum distributions.
If you wish to make a rollover gift and have not yet taken your 2014 annual distribution, please act quickly to meet the year-end deadline. Those supporters who have already made direct transfers from their IRAs to Guiding Eyes earlier this year are covered retroactively by the provision.
For more information, please contact Gail Resnikoff, Director of Planned Giving, at 914-243-2237 (800-942-0149, extension 2237, toll-free) or firstname.lastname@example.org
*Gifts are tax-free on federal and some state income tax returns.
Please remember that charitable gift planning requires careful consideration. The foregoing is intended to provide general information only, and does not constitute, tax, financial or legal advice, which only may be obtained through consultation with your professional advisers.