Tax-Free IRA Gift

Congress has taken important steps to protect America’s financial system while also encouraging additional charitable giving. The Emergency Economic Stabilization Act of 2008 may offer you new opportunities for tax-free charitable giving this year and next.

"If you’re 70 ½ and are required to take money out of your IRA, you can gift up to $100,000 directly to a number of qualified charities, including Hospice," states Doug Melby, a development council member for Hospice of the Red River Valley and a financial advisor for Edward Jones in Mayville, North Dakota. "It’s a convenient way to support charities important to you."

The law includes incentives for those 70 ½ years of age and older who would like to make charitable gifts from potentially taxable Individual Retirement Account (IRA) funds. Consult with your IRA provider and tax professional or contact us to learn more about this opportunity.

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