For your information:
Charitable Giving Incentives:
Tax-free distributions from individual retirement accounts (2007).
The Act allows individuals who have attained age 70-1/2 to make charitable distributions from an IRA without triggering any income tax. The distribution must be made directly from the IRA trustee to a public charity. It cannot be made to a supporting organization or a donor advised fund. The payment must qualify as a deductible contribution under Code Section 170, without regard to any deduction limitation. The payment is not deductible under Section 170. There are special rules that apply to split-interest trusts and for figuring the amount of required distributions and the tax status of future distributions from the IRA. The new rules apply to distributions in taxable years beginning after Dec. 31, 2005 and before Jan. 1, 2008.
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.