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Giving IRA Income

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 Congress Makes Charitable Giving Easier
You can make a gift to Volunteers of America with a tax-free distribution from your IRA, thanks to a provision in the Pension Protection Act of 2006.

The Act allows you to use IRA distributions as gifts to Volunteers of America in 2006 and 2007 without creating new income to report or taxes to pay. To qualify for an IRA rollover gift that is federal and state income tax-free:
  • you must be at least age 70 when you makeyour gift from a traditional IRA or Roth IRA   
  • the transfer must come directly from your IRA administrator
  • the maximum amount you can transfer each year is $100,000 per year per taxpayer.
These gifts from your IRA can even be used to satisfy annual IRA minimum distribution requirements. Contact us to learn more about IRA giving.

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Inspiration
"Charity and personal force are the only investments worth anything."

Walt Whitman