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IRA Charitable Rollover Extension

January 8, 2013 by  

Good news for seniors 70 and above: Included in the Tax Act last week, the IRA Charitable Rollover provision has been reinstated for 2012 and extended through 2013. This means that taxpayers can benefit their favorite charities like the Salvation Army and potentially reduce their income taxes!

There are at least three ways you can use your IRA to support the important work of charity in 2013.

1. Continuation:
The new law continues the IRA rollover for 2012 and 2013.

This means that if you are 70 1/2 or older, you can make gifts to charity directly from your IRA in 2013. Your gift will help you meet your annual distribution requirements and you will not have to pay tax on the amount given from your IRA to charity.

2. Catch-Up:
The new law has a special provision that allows you to make catch-up gifts from your IRA to charity n January 2013.

You can make a catch-up gift by making a gift directly from your IRA to charity in January 2013. Catch-up IRA gifts will be treated as if you made the gift in 2012. Catch-up gifts must be made by January 31, 2013.

3. Conversion:
The new law also contains special provisions that may allow you to convert a taxable distribution from your IRA to a a non-taxable distribution.

For more information please visit: http://myplan2give.org/?pageID=158 or email Jo Ann Remender.

IRA Charitable Rollover Extension

January 7, 2013 by  

Good news for seniors 70 and above: Included in the Tax Act last week, the IRA Charitable Rollover provision has been reinstated for 2012 and extended through 2013. This means that taxpayers can benefit their favorite charities like the Salvation Army and potentially reduce their income taxes!

There are at least three ways you can use your IRA to support the important work of charity in 2013.

1. Continuation:
The new law continues the IRA rollover for 2012 and 2013.

This means that if you are 70 1/2 or older, you can make gifts to charity directly from your IRA in 2013. Your gift will help you meet your annual distribution requirements and you will not have to pay tax on the amount given from your IRA to charity.

2. Catch-Up:
The new law has a special provision that allows you to make catch-up gifts from your IRA to charity n January 2013.

You can make a catch-up gift by making a gift directly from your IRA to charity in January 2013. Catch-up IRA gifts will be treated as if you made the gift in 2012. Catch-up gifts must be made by January 31, 2013.

3. Conversion:
The new law also contains special provisions that may allow you to convert a taxable distribution from your IRA to a a non-taxable distribution.

For more information please visit: http://myplan2give.org/?pageID=158 or email Jo Ann Remender.

IRA Charitable Rollover Extension

January 7, 2013 by  

Good news for seniors 70 and above: Included in the Tax Act last week, the IRA Charitable Rollover provision has been reinstated for 2012 and extended through 2013. This means that taxpayers can benefit their favorite charities like the Salvation Army and potentially reduce their income taxes!

There are at least three ways you can use your IRA to support the important work of charity in 2013.

1. Continuation:
The new law continues the IRA rollover for 2012 and 2013.

This means that if you are 70 1/2 or older, you can make gifts to charity directly from your IRA in 2013. Your gift will help you meet your annual distribution requirements and you will not have to pay tax on the amount given from your IRA to charity.

2. Catch-Up:
The new law has a special provision that allows you to make catch-up gifts from your IRA to charity n January 2013.

You can make a catch-up gift by making a gift directly from your IRA to charity in January 2013. Catch-up IRA gifts will be treated as if you made the gift in 2012. Catch-up gifts must be made by January 31, 2013.

3. Conversion:
The new law also contains special provisions that may allow you to convert a taxable distribution from your IRA to a a non-taxable distribution.

For more information please visit: http://myplan2give.org/?pageID=158 or email Jo Ann Remender.

Defend IN: 2012 World Record Bell Ringing Contest

November 26, 2012 by  

Last year, Caleb Stokes and Leilan McNally made bell ringing history. The men rang the iconic bells outside of the Emmis Communications Building on Monument Circle for 60 straight hours.

The World Record of Bell Ringing was put on by The Salvation Army’s National Headquarters as part of a national effort to celebrate and recognize 120 years of The Salvation Army Red Kettle. Now we celebrate 122 years!

2011 started with 24 contestants across the country. By 10 PM on Saturday there were only 3 contestants left. Leilan, Caleb and Darrell Tureskis, another contestant from Springfield IL, crossed the 60 hour mark and set the new world record. Contestants were required to stand the entire time and were allowed a 10 minute break every four hours. They also could not eat anything and could only drink water or sports drinks.

So who will beat that record this year? Will someone step up and defend Indiana as reigning champ?

Here’s what you need to know:

  • Current Record Stands at 60 Hours
  • Entry Deadline is Wednesday, November 28, 2012
  • Rules of the contest include, but are not limited to:
    Contestants must stand the entire time
    Contestants must ring the bell continuously
    Contestants must be Army bell ringers
  • This year, contestants may eat and drink non-alcoholic beverages, but only during approved breaks.
  • The contest is open to Salvation Army bell ringers nationwide.
  • Entry deadline is Wednesday, November 28, 2012 at 8 p.m. ET.
  • Contestants must sign-up as bell ringers with their local Salvation Army unit

 

Background: The annual Red Kettle Campaign was started as a fundraiser by Salvation Army Captain Joseph Mcfee in San Francisco in 1891. Since that time, the Red Kettle Campaign has grown into one of the most recognizable and important charitable campaigns in the United States. As part of the campaign, more than 25,000 Salvation Army workers and volunteers spread throughout the country to ring bells daily and solicit spare change donations to the iconic red kettles from holiday shoppers. In 2011, the campaign collected a record $147 million nationwide, supported by the public’s nickels, dimes, quarters, dollars, credit cards and helped The Salvation Army serve 30 million people in communities where the money was raised.

For updates on the World Record contest as it takes place, please visit www.facebook.com/SalvationArmyUSA or www.blog.salvationarmyusa.org.

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