Smart Giving from Your IRA
A TAX-SAVING WAY TO HELP WMOT, ROOTS RADIO
Make a difference today and save on taxes. It is possible when you support WMOT Roots Radio through your IRA.
A SPECIAL OPPORTUNITY FOR THOSE 70½ YEARS OLD AND OLDER
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as WMOT Roots Radio without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at WMOT. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as 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 73, 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.
SHOULD YOU WISH TO MAKE A 2023 DONATION THROUGH YOUR IRA, PLEASE KEEP THE FOLLOWING DATES IN MIND:
December 4, 2023: Donors with check writing privileges must mail their check by December 4th to be sure it is received and processed by 12/31.
December 11, 2023: Holding IRA institutions must send their IRA gift by December 11th to be sure it is received by 12/31.
December 22, 2023: Last day for wire transfers of IRA gifts.
YOU CAN GIVE FROM YOUR IRA IN ONE OF THESE EASY WAYS:
Make a distribution online:
Log into the website and make a distribution:
|WMOT / MTSU Foundation
|Box 3, 1301 E. Main St., Murfreesboro, TN 37132
|Federal tax ID number:
Print and mail a distribution letter
This one-page letter is pre-filled with the information you need to make a distribution to WMOT Roots Radio. Simply add your information, print the letter, and mail to your retirement account provider.
Share this page with your financial advisor
Your advisor knows your financial situation best. Share this opportunity with them to see how supporting WMOT Roots Radio can fit into your goals. Click to email this page of resources to your advisor for their consideration.
Subject line: IRA gift to WMOT Roots Radio
I am considering supporting WMOT Roots Radio through a gift in my IRA. This page has information about my opportunity. Please follow up with me on how this could fit into my financial plan.
Contact Us at WMOT@mtsu.edu or 615-898-2800