“Fiscal Cliff” Deal Extends Benefit for Donors and Charities

Helleborus niger ‘HGC Josef Lemper’ blooming in the Witt Winter Garden.

With all the angst surrounding the “fiscal cliff” deal negotiations in late 2012, something very positive came out of the legislative agreement to avoid the cliff for those 70½ and older: the renewal of the IRA Charitable Rollover in the tax code. If you or someone you know has an Individual Retirement Account (IRA) and is 70½ or older—the age of IRS required minimum distributions—you can benefit from the rollover in several ways. For example, the rollover enables people to give tax-free donations to charity from their Traditional IRA account of any amount up to $100,000 yearly for 2012 and 2013. (Charitable distributions made before February 1, 2013, can count for 2012, if the donor so wishes.) Click here for more details.

If you would like to consider an IRA Charitable Rollover Gift to the Arboretum Foundation, please contact our executive director Paige Miller at 206-325-4510 or pmiller@arboretumfoundation.org.