Did you know that you can take advantage of the “IRA rollover” this year? The President just signed the bill extending this wonderful tax break! If you are over 70 1/2 years old, you can give up to $100,000 from your IRA to First U without paying taxes on the amount given. The gift is also tax-free for the Church. It is truly a win-win solution for those facing taxes on their RMD (Required Minimum Distribution) and for our wonderful church!
Talk with your tax advisor to see if the IRA rollover provision makes sense for you. If so, we hope you will consider making a gift before the end of the year. It could be to:
- Complete your 2014-2015 financial commitment
- Prepay all or part of your planned 2015-2016 financial commitment
- Make a contribution to our endowment, The Heritage Fund, that insures the continuing viability of the church.
The office can provide simple instructions for making this happen.