| |
Mail Order Concepts Magazine COVER Page
FULL
PAGE ADVERTISERS
How
YOU Can Advertise
In This Magazine
How To Make A Sizable Charitable Donation From Your IRA—Tax Free
If you are over 70 ½ years old, want to make a gift for a special charitable project, but your only liquid asset is your IRA, I have good news for you.
On August 17, 2006 the Pension Protection Act of 2006 (PPA 2006) was signed into law. This nearly 1,000 page piece of legislation marked the most sweeping changes to the pension arena in 30 years.
Let me give you two common examples that contain problems faced by seniors solved by PPA 2006…
Roger and Claire are retired. Roger spent his working career in the aerospace industry. He was more than well compensated and over the years accumulated a very large 401(k) plan. The plan grew nearly 500% during one 5 year bull market. When he retired, he rolled his 401(k) into an IRA. Other than their home, the IRA is far and away their biggest asset.
For years, Roger and Claire have been supporters of the Humane Society. Their local chapter is building an entire new wing on to their kennels. Roger and Claire would love to make a significant donation—somewhere in the neighborhood of $50,000 to $100,000.
Bill and Diane both worked during their entire careers. Mary taught 6th grade for 40 years. Bill was a career military officer. After his retirement, he spent another 20 years working in the private sector. Bill and Diane have more retirement plans than Carter has pills. Like Roger, Bill has a large IRA.
When Bill turned 70 ½, he was required to start taking the minimum required distributions each year from his IRA. But Bill and Diane don’t need the income; their other retirement income sources are more than adequate. Nevertheless, Bill must take these RMDs and pay tax on them as income.
Bill and Diane have been active in their church all their married life, all 45 years of it. Their church just bought a new organ. It was a purchase of necessity inasmuch as the old (very old) organ was becoming hazardous to play. The organist had to be careful or the organ would start to smoke. So, needless to say, the church did not pay cash for the organ; the majority of it was financed. Bill and Diane would like to pay off the organ.
Both Roger and Claire and Bill and Diane are warm-hearted people. Their devotion to charitable causes and their church is representative of the many people who support charitable organizations which reach out to help people.
But, prior to the passage of PPA 2006, their generosity could have been thwarted by several things…
1. In both cases, their principal liquid asset was an IRA. Neither couple had other assets from which to make a gift.
2. If the large sums were withdrawn from their IRAs, they would be subject to ordinary income tax.
3. If given to a charity, rules which limit the amount that could be deducted as a charitable contribution would have to be followed. This means that they may still have to pay tax on a portion of their IRA withdrawals.
But thanks to provisions in PPA 2006, Roger and Claire can make their gift to the Humane Society and Bill and Diane can pay off their church’s new organ using money from their IRAs and not pay any tax on the withdrawals. But they have to follow the rules…
1. First, you must be at least 70 ½.
2. You can give up to $100,000.
3. This only applies to 2006 and 2007.
4. You can’t withdraw the money from your IRA and then give it to your charitable cause. The transfer must be made directly from the custodian of the IRA to the charity.
5. These gifts, called IRA charitable rollovers, count towards your required minimum distribution for the year.
6. IRA charitable rollovers are not permitted for gifts to donor advised funds and supporting organizations. However, there are some exceptions that apply to funds held by community foundations: scholarship, field of interest, and designated funds qualify. So the first step is to contact your intended cause to see how they are classified and whether or not the law allows an IRA charitable rollover gift.
7. The gift must be a pure gift. In other words, there can’t be any personal benefit strings attached like tickets to an event.
8. You don’t have to report the IRA charitable rollover as income.
9. However, you don’t get a charitable deduction for your gift. Sorry, you can’t have your cake and eat it too.
This new law is a real winner. In these two examples, the Humane Society is able to build new kennels and a church pays off an organ they thought they were going to have to finance. The donors were able to make it happen despite the fact that the only real asset they had was an IRA. I hope this law is extended beyond 2007.
But like anything new, the name of the game is to communicate what is possible. The law was put into effect in late August 2006, so that didn’t leave a lot of time for IRA charitable rollovers that year. If you, or anyone you know, has an IRA and would like to make a gift, make them aware of this new option. If you are involved in a public charity, help their planned giving officer get the word out.
I do not dispense tax advice. It is imperative that you consult with your tax advisor and the charity to make sure it is qualified and that the gift is made in the proper manner.
Mail Order Concepts Magazine
FULL PAGE ADVERTISERS
0-D-WOOD.pdf
0-J-FANCY.pdf
0-WANT_TO_PURCHASE_ MINERALS_&_OTHER_OIL_&_GAS _INTERESTS.pdf
00-BROKER-BRITE-STAR-ENTERPRISES.pdf
00-Brite-Star.pdf
00-E-Bynum.pdf
00-H-Clay.pdf
00-J-SMITH.pdf
00-JC-Patton-wealthperx.pdf
00-Monique's Mail.pdf
00-R-Peterson.pdf
00-Wrightsco-com.pdf
00-d-nicholls.pdf
00-eMclvor.pdf
00-h-clay.pdf
00-j-orlando.pdf
00-j-skuse.pdf
00-jc-patton.pdf
00-jj-jones.pdf
00-l-domerson.pdf
00-l-gaines.pdf
00-m-bugarini.pdf
00-r-vandergrift.pdf
00-s-frescas.pdf
1-WANT_TO_PURCHASE_MINERALS_&_OTHER_OIL_&_GAS_INTERESTS.pdf
20-JCPatton-Mail-Lists.pdf
20-Robert-Peterson.pdf
88-BD-JOHNSON.pdf
88-D-Baker.pdf
88-J-SMITH.pdf
88-d-nicholls.pdf
88-h-clay.pdf
88-j-orlando.pdf
88-jc-patton.pdf
88-l-domerson.pdf
88-l-gaines.pdf
88-m-bugarini.pdf
88-s-frescas.pdf
99-A-Moore.pdf
99-E-Bynum.pdf
99-H-Clay.pdf
99-JC-Patton-Mail-Lists.pdf
99-Monique's Mail.pdf
99-R-Peterson.pdf
99-c-vandergrift.pdf
99-j-skuse.pdf
99-r-vandergrift.pdf
99-wrights.pdf
A-Moore.pdf
BD-JOHNSON.pdf
FRED-HINSTON.pdf
MAKE-MONEY.pdf
WANT_TO_PURCHASE_MINERALS_AND_OTHER_OIL_&_GAS_INTERESTS.pdf
Your-2018-ADSHEET-DIRECTORY1.pdf
c-vandergrift.pdf
sam-scruggs-21.pdf
|
WANT TO PURCHASE
MINERALS AND OTHER
OIL/GAS INTERESTS. | Send details to:
P.O. Box 13557
Denver, CO 80201
|
Current Issue of 11/16/201891 MILLION PEOPLE WILL SEE YOUR AD!!!! | Your 75 Words WILL be e-mailed
to 65 MILLION PEOPLE;
Texted to 26 MILLION
Smartphones
http://bit.do/91MILLSADSENT
185 |
"BUY DIRECTLY from "DIRECT SOURCE! | Visit Today! Use This Special Buyer's Discount Code And Receive a Free Gift With Your First Purchase.
FP01136
Not Ready To Buy? Use The Buyer's Discount Code And Receive Special Offers, Coupons And Promotions!
www.DirectSourcelnt.net
99 |
FREE CASH! | Send me $3 for details on how you can get lots of it!
JACKSON
1259 EAST 58th. STREET
LOS ANGELES, CA 90011
125 |
| 
166
|
YOU WILL BE THE TALK OF THE TOWN... | When You Make $$ With All The
Money-Making Offers
I'll Send In A
6x9 Envelope!
Only $3 Cash Or Stamps To:
K.R. MARKETING
398 SCOTT CT.
TWIN FALLS, ID 83301
17 |
CURING CANCER WITH BAKING SODA | Cancer can be cured with Ordinary Baking
Soda. Is it possible to Reverse Cancer Cells?
Is it possible that cancer is not a disease
and is a symtom of a body deficiency?
Learn The TRUTH ABOUT CANCER
in this 8-page Report.
Send $6 S/H to:
JOHN THOMPSON
1508 STAFFORDSHIRE
CHARLESTON, SC 29407
36 |
NEW! PAY-IT-FORWARD PROGRAM | FAST MOVING 2X2 MATRIX. $25, $50, $100, $200, $400, $,800, $1600 LEVELS OVER AND OVER AGAIN. SPILLOVER. GO TO:
http://paymeforward.com/ref/ladyrose
101 |
POSTCARD MARKETING
REPORTS! | FREE REPRINT RIGHTS! Sample Titles & Details.
Send This ad, $1 +2 F/C Stamps To:
ALAN McFALL
P.O. BOX 11272
MERRILLVILLE,IN 46411
148 |
Exciting Magazine Worth Having
SHORE TO SHORE | Reliable service, Best of the Best
Offers, Info, Ad Specials!
Will you have the next
great issue!
One year subscription only
$20 + LSASE to:
Ed O'Blenis
POB 524164/Stadium
Bronx, NY 10452
61 |
HOME BASED BUSINESS | Start An Information - Mail Order Business -Home! Money Come To Mailbox - Reprint Rights. Free Details. Hurry! Send $1.00 + 2 F/C Stamps To:
McNeal - SC255
POB 490443
Chicago, IL 60649
1(800)631-8233.
139 |
| 
31
|
VISA/MASTERCARD | No Income Or Credit Check!
No One Refused!
For Application, Send #10 S.A.S.E to:
JAY ENT.
1508 STAFFORDSHIRE DR.
CHARLESTON, SC 29407-6508
32 |
RECEIVE YOUR FREE PUBLICATIONS!
The Free Publication "Directory." | Our Directory Lists Over 40 Publications That You Can Receive For FREE!
Request Your Free Copies.
Send 2 F/C Stamps to:
NSL
P.O.BOX 763
GOLDSBORO, NC 27533
62 |
FREE FULLER BRUSH-STANLEY CO.
Dealership, Website & Hosting. | Earn Money Working From Home.
1-410-674-0030
Join:www.FullerBrushgetstarted.com
Shop at: www.FullerDirect.com
ENTER Log in #1417663
79 |
$750 MONTHLY OR MORE! | Work At Home No Assembly, Meeting.
Receive Money Daily.
For Info, Send $2.00 LSASE To:
LEROY TAGGART.mom
233-01 MENTONE AVE.
LAURELTON QUEENS, NY 11422
41 |
FREE CATALOG OF THE BEST SELF-DEFENSE PRODUCTS! | HIDDEN CAMERAS, Mace, Pepper Spray, Stealth Surveillance Systems, Child Internet Safety and Many More Unique, Great Self-Defense Gadgets!
PLEASE SEND ONLY $3.00 TO COVER THE COST OF HANDLING & SHIPPING
Nick Reed Enterprises
6403 Julie Street
San Diego, California 92115
www.totalpersonalprotection.com
RETURN THIS AD WITH YOUR REQUEST
91 |
ADS ACROSS USA | Make out a $20 money order
for each person & a $20 money order & 5 stamps for the monitor.
William Lee
9309 Sarasota Drive
Knoxville, TN 37923
Get c/r ad with you in position #1.
Get $20 on 3 levels.
We publish this ad and
your 1" ad to 10,000.
$20--Chrystal Kellogg
P.O. Box 788
Alcoa, TN 37701
$20----Space Available
$20----Space Available
135 |
BIG MAIL WANTED LISTINGS! | Your Name & Address Listed
Worldwide To Receive Tons Of Big Mail,
Business & Money Making Offers,
Dealerships, Free Special Mailing List.
You Also Get Free Reports To Get
You Started On Earning A Monthly Income.
Send This Ad, Your Info & $7 and 2 F/C Stamps To:
EDDIE NELSON
3312 - 20th. AVE.SO.
SAINT PETERSBURG, FL 33712
45 |
EARN BIG MONEY
PART-TIME
FROM HOME | Mailing our Full-Color
Sales Postcards
1-800-313-0961
or
www.abminfo.com
Referred by #2243
J.C. Patton
176 |
23 FAST FOOD RESTAURANT CARD | Comes With 100% No Expiration Date. Burger King, Denny's, Taco Bell, Popeye's, Wendy's, Boston Market, KFC, Pizza Hut, and more. Only $10.00 or 2 for $15.00. Buy 3 Get one FREE! Send Cash or Money Orders to:
BRUCE MCFAYDEN SALES
670 MADISON AVE.
DAYTONA BEACH, FL 32114
97 |
ADVERTISE TO
INTERNET MILLIONS | Only $19.95 for 54
Words or Less
Expect Amazing Results
DIRECTORY
POB 661
DALLAS, GA 30132
www.DomainWealthSites.com/9032.html
65 |
DEALERS WANTED!
Make huge profits selling NURSING CAREER "Learn & Earn" Reports! | 
1
|
GOOD NEWS FOR ALL AMERICANS! | FREE $50 GIFT CARD!
PLUS AN EQUAL OPPORTUNITY TO RECEIVE A SUPPLEMENTAL INCOME OF $100,000 OR MORE BY MAIL!
EMAIL NAME & ADDRESS TO:
bigmoneyin2013@gmail.com
103 |
| 
106
|
|
