Practical Philanthropy: IRA rollovers
Do you own an IRA or other qualified retirement plan? Are you looking for a tax-wise strategy to make gifts to support our mission? If so, consider joining other Carthage supporters who make their donations through an IRA charitable rollover gift.
At your direction, the custodian or trustee of your IRA can transfer money from your IRA directly to a qualified public charity, like ours, so that you can support the causes that matter most to you.
A charitable IRA rollover, or Qualified Charitable Distribution (QCD), has several significant tax advantages. It allows you to give from pre-tax assets. If you do not itemize or are subject to charitable deduction limits, the IRA rollover still allows you to give while receiving tax benefits. An IRA rollover gift could also help you avoid income that could push you into a higher tax bracket. Giving in this manner also minimizes the effect your giving has on your cash flow, since this gift is coming from your assets, and not your checkbook.
The benefits of a charitable rollover are limited to those 70 ½ or older, and have a giving limit of $105,000. For this reason, call or email Tim Knutson (262-551-5786, tknutson@carthage.edu) to look at the tools and strategies we have to help you reach your goals.
This information is not intended as tax, legal, or financial advice. Gift results may vary. Consult your personal financial advisor for information specific to your situation.