{"id":5113,"date":"2014-12-23T11:10:46","date_gmt":"2014-12-23T17:10:46","guid":{"rendered":"http:\/\/www.gnof.org\/?p=5113"},"modified":"2015-01-07T10:16:08","modified_gmt":"2015-01-07T16:16:08","slug":"act-now-to-take-advantage-of-ira-charitable-rollover","status":"publish","type":"post","link":"https:\/\/staging.communify.me\/gnof\/act-now-to-take-advantage-of-ira-charitable-rollover\/","title":{"rendered":"Act NOW to Take Advantage of IRA Charitable Rollover"},"content":{"rendered":"<p style=\"text-align: center;\"><strong><em>Q&amp;A with Alice Parkerson, vice president for development<\/em><\/strong><\/p>\n<p><em>Q: Why the urgency?<\/em><\/p>\n<p>A: The charitable IRA Rollover is back, but the new law will only be in effect for the remainder of 2014.<\/p>\n<p><em>Q: How does it work?<\/em><\/p>\n<p>A: If you are age 70 \u00bd or older, you can make a tax-free gift totaling up to $100,000 from a traditional IRA account directly to a fund at the Greater New Orleans Foundation.<\/p>\n<p><em>Q:\u00a0 May I make a distribution to my donor advised fund?<\/em><\/p>\n<p>A:\u00a0 No, but there are several other way to support the needs of the community through a donor designated, field of interest, or unrestricted fund.<\/p>\n<p><em>Q: Will you have to pay income tax on money?<\/em><\/p>\n<p>A: No, but this opportunity applies only to IRAs and not to other types of retirement plans.<\/p>\n<p><em>Q: What if my spouse has an IRA account?<\/em><\/p>\n<p>A: You can <b><span style=\"text-decoration: underline;\">each<\/span><\/b> make gifts up to $100,000.<\/p>\n<p><em>Q: Can we claim this as a charitable deduction?<\/em><\/p>\n<p>A: While you can\u2019t claim a charitable deduction for IRA gifts, this distribution from your IRA counts toward your minimum required distribution for the account and does not trigger income tax for you.<\/p>\n<p>It\u2019s a tax-free transfer from the IRA account directly to the Greater New Orleans Foundation.<\/p>\n<p><em>Q: How do you complete an IRA Charitable Rollover?<\/em><\/p>\n<p>A: Please contact your IRA for exact instructions. They can help fast-track your request. Also, please let us know so that we can be on the lookout for the gift.<\/p>\n<p>For more information on how you can make a tax-free gift through your IRA, please call Alice Parkerson, vice president for development, at (504) 598-1291 or email alice@gnof.org<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q&amp;A with Alice Parkerson, vice president for development Q: Why the urgency? A: The charitable IRA Rollover is back, but the new law will only be in effect for the remainder of 2014. Q: How does it work? A: If you are age 70 \u00bd or older, you can make a tax-free gift totaling up&#8230;<\/p>\n","protected":false},"author":37,"featured_media":5115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[677,30],"tags":[766,764,763,193,765],"class_list":["post-5113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-front-page-small-feature","category-our-community","tag-alice-parkerson","tag-charitable-rollover","tag-ira","tag-tax","tag-taxes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Act NOW to Take Advantage of IRA Charitable Rollover | Greater New Orleans Foundation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.communify.me\/gnof\/act-now-to-take-advantage-of-ira-charitable-rollover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Act NOW to Take Advantage of IRA Charitable Rollover | Greater New Orleans Foundation\" \/>\n<meta property=\"og:description\" content=\"Q&amp;A with Alice Parkerson, vice president for development Q: Why the urgency? 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