For those aged 70½ or older, it is possible to make tax-favored charitable gifts from traditional and Roth IRAs.

A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to one or more qualified charities free from federal income tax each year. There may also be state income tax savings. Amounts given this way count toward required IRA minimum distributions for the years of the gift.

To make such gifts, it’s important to not withdrawal funds prior to a gift, but have the gift amount distributed directly from an IRA to your charity. For those with check writing privileges on their accounts, this may be the most efficient way to make a gift directly from an IRA. Please check with us, your IRA administrator or your tax advisor for more information.

To learn more about Eskaton Foundation, please contact Kim Rhinehelder at 916/334-0810 or visit us on line at www.eskaton.org/donations.