It’s a real downer. You turn 70 and ½ years old and the Government makes you take money out of your IRA and pay taxes on it.
Good news! The Charitable IRA Rollover Law has been extended and made permanent. If you have to take a required minimum distribution from your IRA, you can make a gift directly to the FWA (up to $100,000) and it reduces your ordinary income. Contact your IRA Administrator with instructions to make this gift to the FWA of New York, Inc.
This is not legal or tax advice. Please contact your own accountant, lawyer or financial adviser as to your individual situation prior to taking any financial actions. And if you have questions about where to send the money, contact Lisa Buddenhagen at 212-533-2141 x305, firstname.lastname@example.org.