RETIRED – WITH A LARGE IRA?
ARE YOU GETTING HIT WITH A LARGE RMD AND A BIG TAX BILL?
DO YOU HAVE HIGHLY APPRECIATED STOCK THAT WILL GIVE YOU A BIG TAX HIT?
TWO GREAT WAYS TO GIVE AND SAVE ON TAXES
Direct Gifts of Appreciated Stock
A. If you own a stock that has grown greatly in value (think buying Amazon at $10), you can donate some of those stock shares directly to Spirit FM.
B. When you donate the stock itself, you avoid the income taxes and the capital gains taxes on the distribution.
C. Spirit FM can then divest of the stock and connect many more listeners to God and each other by using those funds to expand our network with new stations.
Contact your broker to transfer stocks to Spirit FM.
Charitable Rollover Gifts (QCD)
A. Benefits
1) Avoid taxes on transfers up to $100,000 from your IRA to Spirit FM, 2) Satisfy your required minimum distribution (RMD) for the year, 3) Reduce your taxable income, even if you do not itemize deductions, 4) Make a gift not subject to the deduction limits on charitable gifts, and 5) Help the ongoing mission of Spirit FM by helping us connect people to God and each other.
B. How it works
Contact your IRA plan administrator to make a gift from your IRA to us. Your IRA funds will then be transferred directly to Spirit FM. Note: IRA charitable rollover gifts are not tax deductible, but by giving such a gift, you can greatly reduce your taxes by reducing your taxable income.
For more information contact Jim McDermott at 800-606-3299.