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For those over 70 years and six months of age, it is once again possible to make tax-favored charitable gifts to nonprofit organizations — such as Thomas Aquinas College — from traditional and Roth IRA accounts.

On December 19, President Obama signed legislation that extends this special opportunity for gifts completed in the 2014 calendar year. Gifts transferred directly from traditional and Roth IRA accounts before January 1 will count toward 2014 required IRA withdrawal amounts. That means friends can transfer up to $100,000 to Thomas Aquinas College free of federal income tax. There may also be state income tax savings.

IRA owners who have already made charitable distributions from their accounts during 2014 may still benefit from this legislation.

For more information, ask your IRA administrator or financial advisors, or contact:

Thomas J. Susanka
Director of Gift Planning
805-421-5928