Don't miss this tax savings opportunity! (information updated 12/21/06)
Now through December 31, 2007, you may be eligible to roll a portion of your IRA over to charity without being assessed income or estate taxes! New legislation allows anyone 70 or older to give to a qualified charity an outright gift of up to $100,000 a year from their traditional or Roth IRA. The gift will count toward your annual minimum required distribution but will NOT be recognized as taxable income at the Federal level. The Ohio Legislature has approved changes that will conform Ohio Revised Code to the Federal legislation. This is particularly good news for us in Ohio since we don’t enjoy an income tax deduction for charitable gifts. The Community Foundation will work with you and your professional advisor to turn this short-term opportunity into log-term support of your favorite charitable cause. Put our resources to work for you by calling 277-0142 or 323-4445 and ask for Margo or Brian.