If someone is age 70 1/2 or older and considering a charitable gift, they should look to their IRA as a source of income. They can make a tax-free donation of up to $100,000 from their traditional or Roth IRA to a qualified charity. This opportunity expires at the end of the year, so someone so inclined should act now so the transfer can be completed before year-end.
Be sure to contact your tax advisor or financial planner for exact details. If you have further questions or would like a referral to a tax advisor or financial planner, you may reach us at the contact data on our website at http://www.theFisherLawOffice.com.
Good luck and good hunting.
Randy Fisher
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