Keeping alive the memory of our loved ones is important. Even more so, is knowing that their wishes will be honored forever.
The endowments established by Ken and LouAnn Taylor are a meaningful reminder for daughters Terrie and Jodee. With endowments supporting community health, women's leadership, and more, their parents' kindness continues to touch the hearts of those in need.
By giving it forward, we can honor the past and ensure a vibrant tomorrow for lives in our region.
What impression will you make? Let's give it forward, together.
posted December 21, 2015
The charitable "tax extenders" are no longer "extenders" that must be reinstated each year, but have become a permanent part of our tax code. In a historic vote, Congress passed the IRA Charitable Rollover into permanent law, making it available to donors and charities for the foreseeable future.
Community foundations and other qualifying charities may immediately begin accepting IRA Charitable Rollover gifts from individuals at least 70 ½ years old, up to $100,000 without incurring tax on the withdrawal. This benefit is available to all taxpayers regardless of whether they itemize their deductions.
The legislation (H.R. 2029, a bill to provide for consolidated appropriations for FY 2016 and to make permanent certain tax provisions) cleared the House Thursday by a vote of 318-109 and the Senate Friday afternoon by a vote of 65-33. President Obama signed the measure into law just a few hours after the Senate vote.
H.R. 2029 includes a number of important tax provisions, several of which would affect charitable giving, but most notably would retroactively reinstate the IRA Charitable Rollover provision originally enacted into law in 2006 for all of 2015 and remove any expiration date on the provision, thereby permanently extending the Rollover into the future. The legislation does not provide any expansion of the current law IRA Rollover provision, however.
We welcome the opportunity to talk with you more about how your Community Foundation can partner with you. Connect with me at email@example.com or 231-935-4066.
ABOUT THE AUTHOR:
Steve Wade, Community Foundation Director of Donor Relations
e: firstname.lastname@example.org | p: 231-935-4066