Give Retirement Assets

OVER 70? You Have A New Giving Advantage!

Thanks to a smart new law, if you’re at least 70 ½ you have the freedom to make tax-free distributions from your IRA directly to charity. So, if you are taking IRA distributions you don’t need or that force you into a higher tax bracket, you now have a surprisingly easy solution. This new giving advantage works for transfers up to $100,000.

The new Path Act made the IRA rollo9ver permanent and provides that individuals over 70 ½ can transfer money directly from their IRA account to charity without having to receive it first as income. Because the transfer is directly from your IRA to charity, it is not considered income to you nor do you receive a tax deduction for the transfer.   A transfer from an IRA to charity also counts against the Minimum Required Distribution amount for that year from your IRA.

We have included a sample form that you can use to make a request to your IRA custodian(click here) to make a gift to charity and a sample form(click here) that you can use to inform the charity of your gift.

If you are under 70, designating a portion of your retirement assets to charity is the most economical way to give from your estate. Click here to get a form to change your Retirement plan beneficiary.

Joy To The World Foundation

jttw logoContact the JTTW office:
Joy To The World Foundation,
5550 Tech Center Dr. Suite 305
Colorado Springs, CO 80919
719-260-1173 or toll-free 844-670-2875
click here to contact us by email

The Joy To The World Foundations is a nonprofit tax-exempt public charity organized and operating under the laws of Colorado for the purpose of helping individuals accomplish their charitable objectives in religious, educational, scientific, benevolent, and health related activities. Though much of the money contributed to the Foundation each year is given to support existing charitable organizations, the Foundation is not directly controlled or affiliated with any specific organization.   Read More