Friday, January 4, 2013
(Planned Giving Design Center) – H.R.8, the “American Taxpayer Relief Act” extends the Charitable IRA Rollover through December 31, 2013. This means that donors age 70 ½ or older can ask their IRA custodian to transfer up to $100,000 to a public charity in 2013. The transfer will be a totally tax-free transfer to the public charity and thus equivalent to a 100% charitable deduction which is not subject to the normal charitable giving limit of 50% of adjusted gross income. There is of course no separate charitable deduction for the tax-free transfer to the public charity. (Note – CHRISTUS Stehlin Foundation is a public charity.)
There is also a special opportunity in January 2013 to make a 2012 Charitable IRA Rollover gift if the donor received an IRA distribution in December. The recipient of the December distribution must make a charitable gift from that distribution to a qualified charity before February 1, 2013. This means that a donor who received an IRA mandatory distribution or other distribution during December 2012 may choose to make a charitable gift in January 2013 to a qualified charity and it will be treated as a 2012 Charitable IRA Rollover gift. The normal rules apply: the donor must be 70 ½ and the amount must be $100,000 or a lesser amount and the gift must be made to a public charity.
(See other key tax law changes made by the Taxpayer Relief Act in this separate article.)
As in all cases, consult your own advisors who must assume final responsibility in advising you whether or not this gift is appropriate in your unique circumstances.
Article author – Winton Smith is a practicing attorney in Memphis, Tennessee who specializes in estate tax strategies and tax planning, financial development and planned giving for charitable organizations. He may be reached at 800-727-1040 or wsa [at] wintonsmith [dot] com and welcomes your inquiries.
November 23, 2013
Since its founding in 1997, Golfers Against Cancer has had one goal: to fund cancer research. Virtually all the money raised in GAC tournaments and events goes directly to cancer research organizations, including the CHRISTUS Stehlin Foundation.
August 2, 2013
The 14th Annual Luci Bonneau Memorial Striking Against Breast Cancer Mixed Doubles Bowling Tournament is one of the most prestigious doubles events in America. The tournament includes a Pro-Am - your chance to bowl with the pros to cure breast cancer!
October 19, 2013 | 7:00 p.m.
Get ready to disco and dance the night away at The Friends of CHRISTUS Stehlin Gala! Premiering “STAYIN’ ALIVE,” The Greatest Bee Gees Tribute Band with Members of the Houston Symphony Orchestra and America’s first Mash Up Group, “THE COMPANY MEN.”
May 4, 2013
On May 4th, 2013, young women will take the field for the first time in an exciting powder puff football game with teams comprised of some of best and brightest in Austin. The game is designed to bring the passion and spirit of young community leaders together to support Young Texans Against Cancer.
“I know other kids spend their summers just watching others work, but I am actually doing cancer research. The responsibility is amazing. I think for someone like me, this is the best job you can get.”
Teddy O' Brien,
Graduate, The Kinkaid School, 2006
CHRISTUS Stehlin Foundation for Cancer Research will join CHRISTUS St. Catherine and CHRISTUS St. John in a new partnership with Houston Methodist.
There are currently 13.7 million cancer survivors in the United States and the number is expected to rise by 31 percent to 18 million by 2022, according to a new report. >> Click article title for more.