Thursday, January 17, 2013
A SILVER LINING FOR CHARITABLE ORGANIZATIONS IN THE "FISCAL CLIFF" LAW
Unnoticed while the smoke cleared from the "fiscal cliff" is an important provision.
The "IRA Charitable Rollover" has been reinstated for 2012 taxes.
This means that if you are 70½ years or older, you may donate up to $100,000 from your traditional or Roth IRA (any 501(c)(3) should be so lucky!) directly to ISAR until January 31, 2013. Your contribution will count against your mandatory 2012 IRA withdrawal, and the amount of your contribution can be a 2012 charitable deduction.
Please consult your personal financial advisor for confirmation and to obtain more specifics.
Oh yes! - there's another benefit: you'll be helping ISAR carry on its work in furthering animal rights.