Gifting to Charities-
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  1. #1
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    Reputation: 9.8m/s/s's Avatar
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    Sep 2005

    Gifting to Charities

    ***I am not a tax professional***

    But, today I learned that up to 100k of Required Minimum Distributions from IRA's can be given to charity tax free for tax year 2011.

    I'm not sure how many 70.5+ yo mountain bikers (or just people that care about great trails) that don't need their rmd's are out there, but it could work out great for everyone if we can identify some. As I understand it, as long as your club is registered correctly, all donations would fall under this rule.

    Maybe a CPA could comment on the particulars of how to make this work/ the best way to get in front of that particular group. I know some environmental groups have had huge success with this. With all of our clubs committed to fundraising this time of year, this could be a great benefit.
    Last edited by 9.8m/s/s; 12-15-2011 at 07:43 PM.
    I call for a mandate to allow only road bikes on trails to limit our speeds and increase our line picking skills-FB

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