Each Month, the Kentucky Baptist Foundation will share "12 Things to Do in 2013." CEO Barry Allen will share 12 article on faith, philanthropy and stewardship. Trust Counsel Laurie Valentine will focus her 12 on financial, tax and estate planning.
The IRA Rollover has been extended and expanded!
That’s right ---the recently enacted tax bill extends the IRA Charitable Rollover through 2013. It also provides a window of opportunity for you to make a gift from your IRA by January 31, 2013 and have it count towards your 2012 charitable contributions.
You are not entitled to a charitable income tax deduction for your IRA Charitable Rollover distributions. They do, however, count as part of your required minimum distribution.
Your IRA Charitable Rollover gifts for 2012 must be completed by Jan. 31, 2013. You have until December 31, 2013 to make another $100,000 in IRA Rollover gifts for 2013.
For more information, please call us at (502) 489-3533 or toll free in KY at 1-(866) 489-3533
The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.