Popular IRS Charitable Tax Break Can Be Valuable




A popular tax break that died at the end of 2014 has returned from the dead.
That’s welcome news for many older people thinking about making gifts to their favorite charities directly from their individual retirement accounts. It’s joyous news for many charities, too.

But, as with too many of our nation’s tax laws, this seemingly simple break can be tricky, as readers have pointed out with several excellent questions.
At issue is a law that generally allows IRA owners who are 70½ or older to transfer as much as $100,000 a year to qualified charities directly from their IRAs, tax-free. That transfer is excluded from your income. If done properly, the transfer counts toward an IRA owner’s required minimum distribution for the year.
Although this provision expired at the end of 2014, Congress resurrected it late last year, making it retroactive to the start of 2015—and making it permanent, says Greg Rosica, a tax partner at Ernst & Young LLP.
“Read the Full Article at www.wsj.com >>>>”


We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
Previous articleEnabled Enterprises provides business opportunities for veterans
Next articleEntrepreneurship Training Pilot Program Launches to Aid Florida Veterans