January 9, 2014

Make a Special Tax-free IRA Gift this Year

- Future In Sight

tax paperwork on a table with calculator and coffee

If you are aged 70 1/2 or older, it is once again possible to make a tax-favored charitable gift to the New Hampshire Association for the Blind from traditional and Roth IRA accounts.

On December 18th Congress passed legislation retroactively extending the charitable IRA rollover for 2015 and makes this provision permanent for future years. A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to the New Hampshire Association for the Blind free from federal income tax each year. There may also be state income tax savings. Amounts given in this way count toward required IRA minimum withdrawal amounts for the year of the gift.

To make such gifts, it is important to not withdraw funds prior to a gift but have the gift amount distributed directly from an IRA to one or more qualified charities. For those with check writing privileges on their accounts, this may be the most efficient way to make gifts directly from an IRA.

To make a gift please first check with your IRA administrator or your tax adviser for more information and then contact Shelley Proulx, Vice President for Development at 603-565-2427 or email [email protected]

Headquartered at the McGreal Sight Center in Concord, the New Hampshire Association for the Blind provides vision rehabilitation services for New Hampshire residents of all ages who are blind and visually impaired. Founded in 1912, the Association delivers assistance in virtually every community statewide, including social work, rehabilitation teaching, orientation and mobility instruction, low vision services, adaptive technology support, and public education. For more information on the Association’s programs and services visit www.futureinsight.org call (603) 224-4039.