You can transfer up to $100,000 in any given year directly from your IRA to a charitable organization and pay no income tax on that. Normally if you withdraw money from your IRA you pay a tax, whatever tax bracket you’re in that year. And of course if you donate it, you claim that tax donation. This is a very nice provision that allows you to avoid taxation and still claim the donation, so it’s kind of a double tax advantage.
With that in mind, I ask you to consider reaching out and making some sort of contribution before the end of 2008. We have a long road ahead of us. The financial goal is to raise $250,000 in start-up funds. Can you be a part of what we are doing?
Please click here to make a secure online donation.
Thank you and have a blessed holiday season.
