Tax-Smart Gift From Your IRA
Through an IRA charitable distribution, you can now transfer up to $100,000 (per person, per year) from an individual retirement account to a qualified charity such as Tikva. By law, once you have reached 70 years of age, you are required to withdraw a minimum amount each year from your traditional IRAs and employer-sponsored retirement plans – and this is considered taxable income. When you make a charitable distribution from your IRA directly to Tikva, it is not taxed.
If you have already planned on making a year-end gift dedicated to Tikva, or if you do not need the required minimum distribution amount by year-end, the charitable distribution is a wonderful way to provide Jewish children with food, shelter, healthcare, and a stellar Jewish education.
Request the charitable distribution from your IRA administrator, and allow time to process it before year end. Distributions must be made directly to Tikva. Please consult with your financial and tax advisors.
For inquiries about IRA charitable distributions, gifts of stock, and other planned gifts to support Tikva, do not hesitate to contact our offices at 917-262-1818.