IRA rollover 

NEW IRA CHARITABLE ROLLOVER EXTENSION BENEFITS TAXPAYERS, COLLEGE

On Dec. 18, 2015, the President of the United States signed federal tax legislation that includes a permanent extension of the IRA charitable rollover.

That’s great news for you as taxpayers and for Silver Lake College as a nonprofit institution of higher education.

The tax bill, Protecting Americans from Tax Hikes Act of 2015, retroactively reinstates and makes permanent several tax incentives.

Most notable is the tax rollover, which allows individual taxpayers 70 ½ and older to make tax-free charitable gifts of up to $100,000 per year directly from their Individual Retirement Accounts to eligible organizations such as Silver Lake College, thereby reducing their individual taxable income.

Charitable giving to higher education is on the rise and it is likely that this new, now permanent, federal tax incentive will continue to fuel the upward trend, according to national educational associations.

For more information on the tax bill and its incentives, visit the websites of the U.S. House of Representatives' Ways and Means Committee and the United States Senate Committee on Finance.

For more information on making a charitable gift to Silver Lake College and taking advantage of this new tax incentive, contact Marc R. Barbeau, Vice President of Advancement and External Relations, at 920-686-6176 or  marc.barbeau@sl.edu.