A Win-Win Proposition

The words “Charitable Trust” can be substituted for “IRA Custodian”

Have you ever thought about reducing your income tax bill by giving away money?! If you are over 72 1/2 years old and have a required minimum distribution, you can direct whatever amount you wish to a non-profit like Amy’s House which reduces that amount of income you have to report. As an example, if you must take $100,000 from your investments per year, you can donate perhaps $20,000 to a charity and only pay tax on $80,000. Both you and your favorite charity are winners—you pay tax on less income, and the charity receives operating funds. Please consider Amy’s House for a such a distribution. We have several donors who do this, and for our small non-profit, these donations along with grants keep the lights on and everything functional at Amy’s House. We’d like to recognize some of our larger qualified charitable donors: John and Margaret Henderson, Eleanor Cornell, BJ Finch, Dennis & Ann Turk, David Henderson, Susan Cory. You can also create a charitable trust that simply grants money, regardless of your age and income tax requirements. Another option for giving is to make a bequest in your will. Or you could simply have your bank send a check monthly through auto-pay to Amy’s House. You will always receive an appropriate letter for the IRS even if you only contribute to a fund drive on Facebook. We want you to know that your money is never wasted. We are currently operating a full house most nights, but our executive director sticks to the budget.