Mr. Smith, age 75, has accumulated approximately $2,000,000 in his IRA accounts. He has other sources of wealth and has plans to leave a sizable estate to his heirs and charity. Under this law, Mr. Smith can create a fund at the community foundation to address the causes he cares about most by transferring IRA funds tax free. Mr. Smith can transfer up to $100,000 in 2015. In addition, if Mr. Smith is married, his wife can also make similar gifts from her IRA accounts, impacting the community in ways personal, unique and enduring.

Congress Signs IRA Charitable Rollover into Permanent Law

To make an IRA distribution through the Community Foundation, or to learn more, please call the Foundation at (518) 446-9638. There is good news for Community Foundation donors in their 70s… and for the communities and causes they care about. On December 18, Congress passed the PATH Act, which renews and makes permanent the Charitable…

What You Need to Know About Charitable IRA Rollovers in 2014

President Barack Obama has signed House Resolution 5771 into law. Among the other provisions in this bill, the IRS benefit for charitable Individual Retirement Accounts (IRAs) rollover has been extended through Dec. 31, 2014. What does this mean for you? With the charitable IRA rollover, people aged 70½ and older are able to transfer up to $100,000 of…

Amy O'Connor Anthony Capobianco Community Foundation

Give More – Tax Free- From Your IRA Before December 31!

This post by Anthony J. Capobianco, ChFC, CLU, Principal, Capobianco Financial Advisors, and Amy S. O’Connor, Esq., Shareholder, McNamee, Lochner, Titus and Williams, P.C. Both Mr. Capobianco and Ms. O’Connor provide leadership to the Community Foundation for the Greater Capital Region through the Professional Advisors Steering Committee.  Take advantage of the recent tax legislation which extends a giving opportunity – Qualified Charitable Distributions…