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This Year's SECURE Act

Article Type: Ask a Planner

Q: How does this year’s SECURE Act affect my IRA giving?

A. There are a few things to know about what the SECURE Act says about giving from an IRA.

What’s Changed:

1. Now you can continue to invest in your IRA after age 70 ½, but if you do, those investments will reduce your annual qualified charitable distribution limit. Talk to a trusted advisor for further details.

2. You don’t have to take your required minimum distribution until age 72.

What Hasn’t Changed:

You can still make a qualified charitable distribution at age 70 ½ — and we certainly recommend you consider this if you qualify. Giving from an IRA remains one of the best ways for seniors to reduce their taxable income and support their favorite ministries.

Q: When is the best time to make a gift of stock?

A. The best time to make a gift is when the stock is at its high for the year. While there is no exact science to this, it’s important to note the stock must be appreciated, and you must have held it for at least a year in order for it to be a tax-wise charitable gift.

If you wish to make a gift and claim credit on this year’s taxes, your shares must be in your favorite ministry’s or Barnabas Foundation’s brokerage account by December 31.

Have Questions?

Call us at 888.448.3040 or email info@BarnabasFoundation.comto ask a planner.