A gift to Paws Assisting Veterans, as a part of your financial and estate planning, provides additional tax benefits to you and your family.
Planned or deferred gifts include the following:
Retirement asset designations:
A beneficiary designation is an easy gift to make. It’s also changeable at any time. To name a nonprofit as the beneficiary of an IRA, 401(k) or other retirement account, simply complete and submit a beneficiary designation form provided by the company that administers the account.
Charitable remainder trusts:
A charitable remainder trust (CRT) is an irrevocable trust that generates a potential income stream for you, as the donor to the CRT, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities. Your financial institution will have more information on this.
A bequest can be as simple as including the following language in your will:
I bequeath to Paws Assisting Veterans (Tax ID # 45-3793511), a nonprofit organization located in Forest Grove, Oregon,
the sum of _________ dollars; or
an amount equal to ________ percent of the net value of my estate; or
all the rest, residue, and remainder of my estate
IRA charitable rollover: A Tax-Saving Way to Help Veterans
You can use your IRA to help Paws Assisting Veterans place service dogs with Veterans.
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity like Paws Assisting Veterans without having to pay income taxes on the money. Gifts of any value up to $100,000 are eligible for this and you can feel good helping Veterans and saving lives. This way to help charities is commonly called the IRA charitable rollover or a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
Your gift will be put to use today, allowing you to see the difference your donation is making.
Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions. Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
Your financial company may have a form they want you to fill out to request a transfer or you can email us to receive a letter you can take to your IRA Custodian to request to make a direct charitable distribution from your Individual Retirement Account, Account to Paws Assisting Veterans.