Did you know that investors age 70 ½ or older can donate up to $100,000 of IRA money to charity during their lifetime without incurring tax liabilities as long as the funds go directly from the IRA custodian to the charity? If this is something of interest to you, make sure your custodian does not write the check to the investor (you) who then writes the check to the charity, otherwise you will pay tax on the distribution. You could also make charitable bequests from your IRA (in other words, allocate money in your IRA to a charity upon your death). What a great way to leave money to your favorite charity! This way, the full value of the gift is transferred tax-free upon death and your estate receives a charitable deduction! For more information on this and other IRA rules, log onto www.theentrustgroup.com to find a representative near you!

This entry was posted on Friday, February 15th, 2008 at 8:00 am and is filed under Self-Directed IRA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.