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Winter 2008 Rapport: Development Outlook

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Download "Development Outlook" which includes this article from the Winter 2008 Rapport (PDF, 380 KB,Download Help, Download Time Calculator)

Law brings new opportunities

The Pension Protection Act of 2006 (PPA) may offer you opportunities for tax-free charitable giving through 2007. This act gives people who are at least 70½ years old the opportunity to make tax-free charitable gifts. You can then make gifts from traditional or Roth IRAs that would be taxed if withdrawn, voluntarily or not.

If over the age of 59½, funds may not be distributed directly to a charity but can be withdrawn from IRAs and other retirement accounts and then donated without a 10% penalty for early with­drawal. While amounts withdrawn and donated in this way are reported as part of your income, they can then be deductible as charitable contributions. Check with your financial advisor and AGTS for more details.

Updated: Monday, December 10, 2007 3:57 PM

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