Use IRA to help local charity
To the editor:
This is the final year the IRS allows for individuals who are 70 1/2 years or older to make a tax deductible gift from an established IRA to a charity such as Omega House. A “Qualified Chartable Distribution” allows those who are subject to the “Required minimum distribution” requirement to direct all or part of their required distribution to an IRS recognized charity. To initiate such a gift you need to talk with your CPA, Attorney or Certified Financial Planner very soon. Some offices have a deadline to initiate such gifts by December 1st, 2013. This IRS IRA giving option will not be available in 2014.
Director of Community and Donor Relations