{"id":848,"date":"2016-01-21T01:49:22","date_gmt":"2016-01-21T01:49:22","guid":{"rendered":"http:\/\/pajewishendowment.org\/?page_id=848"},"modified":"2021-12-20T17:24:46","modified_gmt":"2021-12-20T22:24:46","slug":"ira-charitable-rollover","status":"publish","type":"page","link":"https:\/\/pajewishendowment.org\/en\/ira-charitable-rollover\/","title":{"rendered":"IRA Charitable Rollover"},"content":{"rendered":"
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\nSustaining the Jewish Community today <\/span>
\nand securing its future for the generations that will follow us.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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We help you do what is in your heart to benefit the Jewish community and other causes you care about!<\/span><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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The IRA Charitable Rollover is NOW PERMANENT<\/span><\/h3>\n

It\u2019s not too soon to use your IRA to make a gift to your Jewish Community Foundation to benefit causes you care about\u2014forever! Take advantage of this opportunity every year to bring life-changing programs and services to people in Central Pennsylvania, Israel and around the world.<\/p>\n<\/div>\n<\/div>\n

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On December 18, 2015, Congress passed the IRA Charitable Rollover into permanent law. If you are 70 1\/2 or older, you can transfer up to $100,000 (or $200,000 if married filing jointly) directly from your pre-tax IRA assets each year to support the causes you are passionate about and that reflect your Jewish values. If the donator is 72 or older the donations can count toward the required annual payout from the IRA (required minimum distributions.)\u00a0While there is no deduction for the donation, the withdrawal does not count as taxable income received to be reported on the individual tax return as would be required if the donation did not occur.<\/p>\n

Now is a great time to consider tax-savings ideas that can reduce your taxes before these cash donation provisions expire, or Congress passes new more expansive tax laws.<\/p>\n<\/div>\n

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  1. First, taxpayers who do not itemize or no longer itemize due to the enlarged standard deduction can deduct cash donations of up to $600 for joint filers and $300 for single filers. Cash includes checks, credit or debit cards, and electronic funds transfers. This provision reduces taxable income. This donation cannot be made to a donor-advised fund. <\/strong><\/li>\n
  2. The other provision provides\u00a0that for those who do itemize, cash donations up to 100 percent of adjusted gross income can be claimed, instead of the usual limit of up to 60 percent. These donations can’t be made to donor-advised funds.\u00a0\u00a0<\/strong><\/li>\n<\/ol>\n
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    There are also opportunities for you to take advantage of Charitable Rollovers:<\/h3>\n

    – Create a permanent fund through the Foundation to support causes meaningful to you forever
    \n– Make a designated gift to your synagogue or agency through the Foundation
    \n– Secure your Annual Campaign gifts to those causes that are dear to you
    \n– Pre-pay multiple years of giving
    \n– Establish a Lion of Judah or Perpetual Annual Campaign Endowment<\/p>\n<\/div>\n<\/div>\n

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    To identify the ideal giving opportunity for you, please contact Paulette Keifer, Executive Director at 1-717-409-8220<\/strong> or email info@pajewishendowment.org<\/a><\/strong>.<\/p>\n

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    \"l-l-logo\"A PROGRAM OF THE HAROLD GRINSPOON<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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    Our Jewish Community Foundation is sponsoring and presenting LIFE & LEGACY – a collaborative effort of our central PA agencies and synagogues. Through LIFE & LEGACY you can do what\u2019s in your heart to impact Jewish causes you care about – forever…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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    The Jewish Community Foundation of Central Pennsylvania is not engaged in rendering legal or tax advisory services. Individuals should obtain the services of an attorney, CPA or other trusted financial advisor.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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    JEWISH COMMUNITY FOUNDATION OF CENTRAL PA 3211 North Front Street ~ Harrisburg, PA 17110 www.pajewishendowment.org<\/a> ~ 1-717-409-8220<\/strong><\/p>\n

    Download Flyer<\/a><\/span><\/h2>\n<\/div>\n<\/div>\n<\/div>\n