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2 Tax-Smart Ways to Give from Your IRA

An individual retirement account (IRA) is an appealing way to save for your retirement: Make a contribution and enjoy tax savings. But eventually, that tax bill comes due—when you take your annual distributions and again when you leave your assets to heirs. By making a gift to the pets at the Connecticut Humane Society from your IRA, you can avoid a tax bite and ensure lifesaving care is always available for pets in need.

At Any Age:  You can give from your IRA by naming CHS as a beneficiary of your account. This is a great option for making an impact on pets beyond your lifetime. Here’s how:

  1. Decide what percentage (1–100) you would like CHS pets to receive.
  2. Contact your IRA administrator for a change-of-beneficiary form, or simply download a form from your provider’s website.
  3. Name the Connecticut Humane Society and the gift percentage on the form.
  4. Return the form to your IRA administrator.
  5. Let CHS know about your plans so we can thank you!

If You’re 70 ½ or Older: You can use your IRA to make a tax-free gift by transferring any amount up to $100,000 per year directly to a qualified charitable organization like CHS without paying income tax on the distribution. Additional benefits include:

  • You’ll save the lives of local pets today.
  • You pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction, so you benefit even if you don’t itemize your tax deductions.
  • If you are at least 72 years old, your gift can satisfy all or part of your required minimum distribution.

Have a question? Want more information? Contact Barbara Naugle, Director of Development: 800.452.0114, ext. 6324  or bnaugle@cthumane.org

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