If you're over 70 ½, you may be able to transfer up to $100,000 from your IRA to SMC/SWC without paying any federal income tax. Your gift can be made simply by notifying your IRA plan custodian of your intent to make a current transfer to SMC/SWC. It's a win-win!
For more information on how to make an IRA gift please contact lynnem@seattlechoruses.org or call (206) 323-0750 x 208. For information on how giving through an IRA will impact your taxes, contact your tax consultant.