Last-Minute Year-End Tax Deduction: IRA Charitable Rollover
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On December 18, 2015, a new law made the IRA Charitable Rollover provision permanent. Now individuals can transfer up to $100,000 from a traditional IRA to a charity without triggering income tax. This is a wonderful provision for future planning, however, individuals who aim to take advantage of the provision for the 2015 tax year only have two days left to do so!
If you plan to use the IRA Charitable Rollover provision for the 2015 tax year–make arrangements before year’s end!
Our Chapel Hill tax attorneys have a forthcoming post that goes into more detail about the IRA Charitable Rollover provision and how it may affect charitable planning strategies
