Annual Fund Drive
If you are an IRA owner and age 70 ½ or older, you can take advantage of a provision in the tax code that allows you to make a direct transfer to a qualified charity in any amount up to $100,000 without having to pay income taxes on the distribution. This is an important advantage for a charitably minded IRA owner who doesn’t need his or her required minimum distribution (RMD) for living expenses. Bear in mind you cannot claim the qualified distribution as a charitable tax deduction since you are receiving the benefit of the amount being excluded from your taxable income. However, in deciding to avail yourself of this opportunity, you enjoy three appealing advantages: You satisfy the removal of the required minimum distribution from your IRA, you pay no income taxes on the amount and you help support the programs and mission of Womanspace. If you are interested in helping Womanspace in this way, please request a check from your IRA made payable directly to Womanspace. Thank you!