Special tax free gift option for 2014 - the President signed the Tax Increase Prevention Act of 2014 on December 19th, which is legislation that includes an extension for the special IRA rollover incentive for IRA gifts completed in 2014.
For those over age 70½, it is once again possible to make tax-favored charitable gifts from traditional and Roth IRA accounts.
A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to Alliance Defending Freedom free of federal income tax. There may also be state income tax savings. Amounts given in this way will count toward 2014 required IRA withdrawal amounts.
To make such gifts, it is important to not withdraw funds prior to a gift, but distribute them directly from an IRA to Alliance Defending Freedom. For those with check writing privileges on their accounts, this may be the most efficient way to make gifts directly from an IRA. If you have already made a gift in 2014 to Alliance Defending Freedom directly from your IRA, this gift will also qualify for the rollover provision because the law is retroactive to January 1, 2014.
Please contact us toll-free at (800) 835-5233, your IRA administrator or your advisors for more information.
Please review the IRA Rollover Fact Sheet for additional information.
Alliance Defending Freedom often hears from its Allied Ministry Friends, “What more can I do beyond my existing giving to help defend religious freedom?” The answer is gift planning.
Gift planning is an opportunity to integrate your financial objectives with your charitable giving. It allows you a variety of options to provide for your family’s well-being and it also increases your support of Alliance Defending Freedom. A "planned" gift is a very effective way to redirect assets to charity that may otherwise be lost to taxes. Many planned gifts also provide a lifetime income stream and have significant income, capital gains, and estate tax benefits.
A planned gift comes in essentially two forms: (1) a deferred gift in which cash or other assets pass to Alliance Defending Freedom at a future date; or (2) a current gift to Alliance Defending Freedom of non-cash assets, such as stock or real estate.
Please visit the "Gift Planning Instruments" link below for more information on the many types of gift arrangements available to significantly impact religious liberty – today and for future generations.
- Gift Planning Instruments
- Gift Planning Profile: Brenna Lawrence
- Pillars of Freedom
- Gift Planning Frequently Asked Questions
Note: This section provides general financial information, not specific financial advice. The material contained in this section does not create or imply an advisor-client relationship with the Alliance Defending Freedom, Inc., or any of its attorneys or allies. For specific questions, consult a qualified financial and/or legal advisor.