Dear Friend of FWF:
Last year Congress passed enduring legislation that extended the Charitable IRA Rollover incentive program for 2015 and future years.
It applies to individuals 70 ½ and older to make distributions to charities from either traditional or Roth IRAs.
As you assess the tax impact of upcoming tax changes on your financial situation, you may wish to make a year-end charitable contribution from your IRA to the Florida Wildlife Federation in lieu of your minimum required distribution.
While not counting as a charitable contribution, a distribution from your IRA counts toward your minimum required distribution and will NOT be treated as taxable income as would otherwise be the case. It is a tax-free transfer from your IRA account to FWF.
Note that the transfer must be done through your IRA administrator (and not directly from you to FWF). This is a unique tax-advantaged way to support the Florida Wildlife Federation while providing individual benefits at the same time.
For further information, you or your financial advisor may contact:
Tim Bachmeyer, Ph.D.
FWF board member