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 olde
r 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