The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) is a far-reaching bill that includes significant provisions aimed at increasing access to tax-advantaged accounts and preventing older Americans from outliving their assets.
Below are just a few of the changes that can affect gifts through retirement plans:
Retirement plans are taxed at ordinary income rates when left to heirs, but there's zero-tax when you donate such assets to Fontbonne University. So, leaving tax-favored assets to heirs is a smart tax strategy.
Therefore, if you're considering a gift, consider making it through your retirement plan or a "tax free" gift though a Qualified Charitable Distribution (QCD, or the IRA Rollover), and leave less taxed assets, such as appreciated securities, to the ones you love.
The gift planning information presented on this site is intended as general. It is not to be considered tax, legal, or financial advice. Please consult your own personal advisors prior to any decision.
Read full disclaimer|Site Map|Planned Giving Marketing Content © 2024 by MajorGifts.com.
