Making a gift from IRA is a tax-saving way to help NPH USA.
Did you know that you can designate NPH USA as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime? It’s simple, just requiring you to contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
If you’re at least 59½ years old, you can take a distribution now and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
A Special Opportunity for Those 70½ Years Old or Older
You have a unique advantage to benefit NPH USA and receive tax benefits in return. Any amount up to $100,000 total per year can be given from your IRA directly to a qualified charity such as NPH USA without you having to pay income taxes on the charitable donation. This gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
To learn more about how you can transform the lives of the children we care for through a gift from your IRA, please contact your regional NPH USA office.
• How the CARES Act Impacts Charitable Giving for 2020