IF YOU WOULD LIKE TO RECEIVE OUR ANNUAL NEWSLETTER, NOTICE OF GATHERINGS AND OTHER EVENTS, PLEASE BE SURE WE HAVE YOUR CURRENT E-MAIL ADDRESS BY SENDING IT TO ANYONE LISTED BELOW:
CONTACT US
Jack and Donna Walton, President
djtcwalton@gmail.com
Jim and Lydia Stack, VP
lstack@mac.com
Setsuko Amann, Treasurer
setsamann@pacbell.net
Linda McKenna, Secretary
lindaemc11@gmail.com
Deci Dugan, Events Committee
tjdugan4@comcast.net
CONTACT US
Jack and Donna Walton, President
djtcwalton@gmail.com
Jim and Lydia Stack, VP
lstack@mac.com
Setsuko Amann, Treasurer
setsamann@pacbell.net
Linda McKenna, Secretary
lindaemc11@gmail.com
Deci Dugan, Events Committee
tjdugan4@comcast.net
Save Money by Donating to Amigos when you make your annual RMD
If you are 70½ years old and have an IRA, you need to take a required minimum withdrawal from it each year. Normally that withdrawal becomes a part of your adjusted gross income for the year, which would affect your taxes and could also affect your Social Security and Medicare earnings base. But if you arrange to have all or part of that required withdrawal be a donation directly to a non-profit organization like Amigos Anonymous, not only do you make a donation to a worthy cause but that donation amount does not become part of your adjusted gross income and thus affect your taxes and benefits for that year. While you cannot take that same deduction as a tax write-off, you still can likely save money. It is easy to do. Just ask your financial advisor handling your IRA what the proper procedure is. Usually all that is needed is information from the charity, like Amigos, and then your IRA sponsor will make the direct transfer of the amount you designate so that the money never becomes part of your income for he year. Your financial or tax advisor can help you make this happen and probably save you some money. Remember, this donation must be completed before the end of the calendar year.
If you are 70½ years old and have an IRA, you need to take a required minimum withdrawal from it each year. Normally that withdrawal becomes a part of your adjusted gross income for the year, which would affect your taxes and could also affect your Social Security and Medicare earnings base. But if you arrange to have all or part of that required withdrawal be a donation directly to a non-profit organization like Amigos Anonymous, not only do you make a donation to a worthy cause but that donation amount does not become part of your adjusted gross income and thus affect your taxes and benefits for that year. While you cannot take that same deduction as a tax write-off, you still can likely save money. It is easy to do. Just ask your financial advisor handling your IRA what the proper procedure is. Usually all that is needed is information from the charity, like Amigos, and then your IRA sponsor will make the direct transfer of the amount you designate so that the money never becomes part of your income for he year. Your financial or tax advisor can help you make this happen and probably save you some money. Remember, this donation must be completed before the end of the calendar year.