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Charitable IRA Rollover — A Limited-Time Opportunity to Reduce Taxes, Support ACSM

Congress has granted a one-year opportunity for you to save taxes – and make a donation – using cash from your retirement account. If you are 70.5 years or older and own an individual retirement account (IRA), or other type of qualified retirement plan, you may make a tax-free rollover gift to ACSM before Dec. 31, 2011. As you may know, a withdrawal from a qualified plan is normally taxed on your income tax return. However, the U.S. Congress has granted a limited-time opportunity to make tax-free rollovers to charities like ACSM.

Your gift must be donated to ACSM directly from a qualified traditional or Roth IRA. If you have a different type of qualified retirement plan, your gift must be transferred (tax-free) to a traditional or Roth IRA before donating to ACSM. You cannot personally withdraw the gift. Rather, you should use a wire transfer to send the gift directly to ACSM from the IRA or have your IRA administrator cut a check payable to ACSM. Your gift will be tax-free, but it will not qualify for an additional income tax deduction.

You may designate your gift to any specific purpose at ACSM, including an endowment. With questions or to learn more about this tax-saving way to support ACSM, please click here. more


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