From the San Juan Preservation Trust
The “fiscal cliff” legislation that was enacted on New Year’s Day delivered some good news for taxpayers age 70-½ or older. The American Taxpayer Relief Act of 2012 provides these taxpayers the opportunity to take advantage of the old “IRA Charitable Rollover” which has now been extended through 2012 and 2013. This provision allows a donor to make a tax-free distribution from a traditional Individual Retirement Account (IRA) or Roth IRA provided that money is transferred to a charitable organization.
And more good news: if you wish to transfer a December 2012 withdrawal to a charity, you may still do so, but you must act quickly and ensure the contribution is made by January 31, 2013.
And there is more: if you were one of many who made a charitable gift from their IRA last year in the hopes that Congress would extend the IRA charitable rollover, you are in luck! Your tax benefit is retroactive to January 1, 2012.
To read more about this tax-saving opportunity, visit www.sjpt.org.
A great charitable organization would be the Orcas Family Health Center a 501c3 organization that provides thousands of dollars in health care for those who need it in spite of any inability to pay or lack of insurance.
Thank you for your consideration.
If you are thinking of a charitable tax deductible donation, Orcas Family Health Center is one of the most worthy potential recipients I can think of. Not only does it provide health care to anyone, local or visitor, regardless of whether the person cannot pay, but OFHC is also efficiently managed, with little overhead for a rural health center. And if you haven’t visited OFHC, you will be pleasantly surprised with how warm and friendly everybody is. Dr. Dave Shinstrom is the epitome of the “family doctor” — just ask his patients. The extra miles he goes to help his patients is remarkable !