IRAs & Retirement Plan Gifts

You can designate the FSGA as a beneficiary of part, or all your IRA or retirement plan.  You can also make a contribution a portion of your annual Required Minimum Distribution (RMD) from your IRA and receive special tax benefits.  

Special IRA Giving Opportunity for 2013

It is once again possible to make completely tax-free gifts from traditional IRA and Roth IRA accounts.

A gift of any amount up to a total of $100,000 from a traditional or Roth IRA may be given directly to a charitable organization in 2013 without reporting the funds as income for federal tax purposes. This can be a special way to make gifts on a tax-free basis without worrying about normal deduction limitations or additional taxes on Social Security benefits.

Benefits of Using Your IRA to Make Charitable Gifts

  • Tax Free - Amount of your gift is not taxed
  • Tax Bracket  not affected
  • No impact on Social Security 
  • No Estate or gift taxes

Avoid Double Taxation

You may want to consider including charitable gifts as part of your planning for balances remaining in your retirement plans at the end of your lifetime. Because these assets are included as part of your estate, your investments may ultimately be subject to federal and/or state estate taxes.  

Designating the FSGA as a beneficiary of your IRA will allow the full value of these designated assets to transfer without tax impact.

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