Good news for those age 70 1/2 and older. The new tax bill signed into law extends the charitable IRA rollover through 2013. IRA account holders age 70 1/2 and older can make tax-free gifts for 2012 and/or 2013 from their Individual Retirement Accounts.
Donations up to $100,000 may be made to any nonprofit charitable organization holding a 501-c-3 determination letter from the Internal Revenue Service. These gifts can also count toward your minimum distribution requirements.
There is a special January window of opportunity for those who would like to make 2012 qualifying gifts. For the 2012 tax year, you must complete your IRA gift by Jan. 31, 2013.
Donors who wish to make these gifts must get a distribution form from the institution where they set up their IRA.
“While this applies to a fairly small segment of our community, it is an excellent opportunity for some individuals to support the charity of their choice and avoid the tax implications of assets grown within their IRA,” commented Susan Landis, executive director of the Beckley Area Foundation.
“These donations could help your alma mater, your church, United Way, a local food pantry, an arts group or any of the 380 funds at our community foundation.”
For more information call your financial adviser or the BAF office, 304-253-3806.
- Local News
Beckley officer and K-9 partner Ciro win award from WVPCA
They say every dog has his day, but a local pooch and his handler have had about 365 days of success.
Cpl. Jamie Blume of the Beckley Police Department and his K-9 partner Ciro have won the 2013-2014 Officer and K-9 of the Year award from the WVPCA, according to a press release from the Beckley Police Department.
Shooting at Quality Inn injures one
A shooting took place at the Quality Inn in Beckley on Friday night, according to Raleigh County dispatchers.
Area 911 dispatchers report several fires
Fire departments from all over Raleigh County and its surrounding areas dealt with fires Friday night, according to dispatchers.
High court overturns Raleigh ruling
An audio recording between a confidential informant and a Beckley attorney accused of selling cocaine will now be allowed into evidence, according to a West Virginia Supreme Court of Appeals ruling.
- Calendar — Sunday, April 20, 2014
State agency announces new WIC income guidelines
The West Virginia Department of Health and Human Resources Office of Nutrition Services has reported new U.S. Department of Agriculture (USDA) income eligibility guidelines for the Special Supplemental Nutrition Program for Women, Infants and Children (WIC).
- Good Friday scene
Service workers want voice in choice in Raleigh County Schools superintendent hiring
The president of the Raleigh County School Service Personnel Association has asked Raleigh County Board of Education members to choose a school superintendent who will hear the concerns of service workers in the school system and involve them in the decision-making process.
Two internal candidates will interview for superintendent position Monday
Two current administrators at Raleigh County Schools will be interviewed for the position of superintendent Monday, Raleigh Board of Education members verified Friday.
Raleigh Schools Director of Secondary Education Miller Hall and Raleigh Schools Assistant Superintendent David Price were chosen from a pool of six applicants, BOE members said.
Public to get a chance to offer opinions on Caldwell Post Office
Changes are on the way for the Caldwell Post Office, but the public will be afforded an opportunity to attempt to sway the Postal Service’s decision on the facility’s fate when an informational meeting is staged Tuesday afternoon.
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- Beckley officer and K-9 partner Ciro win award from WVPCA