It’s not too early to start planning now. If you are going to be 70 1/2 or older in 2016 plan to make a tax-free gift from your IRA before December 31st.
An IRA Charitable Rollover is a direct transfer of up to $100,000 from your IRA to a qualified charity such as St. Vincent de Paul. Because the donation is made directly to St. Vincent de Paul, you will benefit because you will not have to count the donated amount as income for 2016 tax purposes. This is very helpful in excluding all or part of your required minimum distribution.
Contact your IRA administrator and instruct them to make the contribution from your IRA directly to St. Vincent de Paul, Portland Council. Our tax ID is 93-0456525. Call 503-234-5287 with any questions.
Bless you for your continued support.