* * * * * * * * NEWS
RELEASE * * * * * * * *
YOU CAN
MAKE TAX FREE GIFTS FROM YOUR IRA
TO THE BEDFORD COMMINITY DEVELOPMENT FUND
Federal tax legislation enacted on October 3, 2008 allows individuals
70 1/2 and over to make a direct gift from your IRA to the Bedford
Community Foundation or other qualified charities. This gift counts
toward fulfilling your required minimum distribution.
For each of the years 2008 and 2009 you
can exclude up to $100,000 from your gross income for distributions
made directly from your
traditional IRA to a qualified charity. Checks issued from the IRA
must be made payable to the charity. Take advantage of this favorable
tax treatment by using your IRA to make a gift to Bedford Community
Foundation and advance the causes of your community and to help make “Bedford
Better.” Gifts must be received by December 31 in order to
qualify as a charitable gift in the current year.
Make a gift to the BCF directly from your IRA in 2008 and 2009.
Your donation will not be taxed as an IRA withdrawal. Your contribution
will count towards your mandatory IRA withdrawal.
You are urged to contact your IRA custodian
or representative before making a gift to arrange for the proper
transfer of funds from your IRA.
While this topic is fresh on your mind, ask your attorney and financial
advisor how to make the BCF a beneficiary of your will or trust or
IRA
For more information about how you and the Bedford Community Foundation
can benefit from an IRA charitable gift please contact our office
at 734-854-1722.
You may have your check sent directly to the: Bedford Community
Foundation
These helpful tips are only for your information on this change
in the IRA law and are not to be considered as legal, tax or financial
advice. You should consult with your legal, tax and financial advisors
to implement the benefits of this new law and related matters.
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