Many CRC Ministry supporters increase their generosity's impact and tax efficiency by giving now or later from their individual retirement accounts.
1. Give now. If you are over 70 ½, you have an exclusive giving option that’s far more tax-efficient than giving from your checkbook or wallet. You can give up to just over $100,000 (indexed annually for inflation) in qualified charitable distributions. This will satisfy your required minimum distributions and lower your taxable income.
2. Give later. Extend the impact of your giving, well beyond your lifetime! When you leave your IRA to your loved ones, you create a taxable event for them since it will be treated as income. However, when you name a CRC Ministry as a beneficiary, the entirety of your gift goes to the ministry – tax-free!
Whether you give now or later – or both now and later – giving from your IRA is a smart way to eliminate taxes and further this ministry that means so much to you.
To learn more, email Josh Remer at [email protected] or 616.224.5885
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