If you are 70½ or older, now you can make a difference by giving to LIFE Senior Services and other causes that you care most about from your annual IRA distributions.These gifts can be made tax-free and are not included in your taxable income. Additionally, by giving some of the IRA withdrawal away, you may reduce the tax on Social Security.
As part of the PATH Act, legislators passed a permanent extension of Charitable IRA legislation, making it easier for Americans to give to causes they care about. The Charitable IRA provision, first enacted in 2006, has the power to help local charities strengthen their communities by allowing individuals to roll over up to $100,000 from an Individual Retirement Account (IRA) annually to charity without being federally taxed.
The IRA Rollover allows people age 70½ and older to make direct transfers totaling up to $100,000 per year to qualified charities, without having to count the transfers as income for federal income tax purposes. Transfers must come from your IRA directly to the qualified charity. If you have retirement assets in a 401k, 403b etc., you must first roll those funds into an IRA, and then you can direct the IRA provider to transfer the funds from the IRA
directly to the charity.
As a courtesy to LIFE supporters, we are pleased to offer you the services of Mark Loeber, who is an expert in charitable gift and estate planning.
To get started, call (918) 491-0079 to schedule an appointment with Mark. Or, contact LIFE's Development Manager Rickye Wilson at (918) 664-9000 to arrange an appointment.
Mark Loeber, Charitable Financial Planner
Mark has more than 20 years of experience in the area of charitable gift and estate planning. His skill and knowledge have helped thousands of donors, as well as financial professionals and enrolled agents with the IRS, on advanced charitable and estate planning issues.
Mark earned a degree in Business Management with an emphasis in Economics. He audited courses in law school studying Charitable Gift & Estate Planning in Virginia, and completed the Certified Financial Planning (CFP) and Certified Gift Planner (CGP) designations.
One of Mark's greatest passions is helping individuals discover which charitable tools and techniques can best provide for their needs and the needs of their families.
This opportunity is made possible through a partnership with Tulsa Community Foundation.