At a glance • Leverage your IRA • Understand what’s new for 2023 • Maximize your Qualified Charitable Distribution
SPRING 2023
Prepared for the Friends of Christian Appalachian Project The past several years have been challenging, with a host of problems causing many of us to feel anxious and uncertain. In addition, market volatility in 2022 has left some donors hesitant to make charitable investments at this time.
However, an analysis of giving over time demonstrates that the smart use of appreciated assets, especially when also diverting tax liability for yourself or loved ones, can help you mitigate immediate concerns about economic volatility while still allowing you to be exceptionally generous. There are several tools and options available that will help you feel confident about your choice to support the causes for which you are so passionate. This newsletter provides a basic overview of a few tools that are strong options for charitable investment, even during dynamic times.
The IRA $ $ $ $ $ $ $ $ $ $ $ $ $ The Individual Retirement Account (IRA) has become a hot topic in recent years, as many account holders are now making plans to pass on these assets to beneficiaries. In addition to versatile benefits, like retirement income, IRAs can be leveraged to give you longer-term tax benefits and provide charitable support to Christian Appalachian Project (CAP). The IRA is a great tool for growing and retaining your assets, because the income from the account’s earnings can grow each year without being taxed. Consider the IRA to be versatile container that holds stocks, bonds, mutual funds, and other assets, and works as a savings account that can provide significant tax breaks. Due to recent rule changes, they have also increased a significant burden on individual beneficiaries when IRAs are used to pass on inheritance to loved ones. It is important to understand the most strategic way to use your IRA savings to maximize the benefit to you, your loved ones, and to your favorite causes.