There’s still time to make a 2012 gift!

(By Terry Mitchell, CPA, Foundation Board Member) – The American Tax Relief Act approved by Congress on January, 1, 2013, provides an opportunity for certain qualified taxpayers that can still provide a charitable deduction for 2012.  This opportunity is available for taxpayers who are over age 70 ½.

The special provision allows the taxpayer to take tax-free distributions from their individual retirement accounts and make charitable contributions, up to a maximum of $100,000 per year.  The special retroactive rule allows the taxpayer the opportunity to make this contribution by January 31, 2013, and rollback the contribution deduction for their 2012 income taxes.  Please see the excerpted explanation below and be advised to see your tax consultant or investment advisor for assistance.

You can make your donation through these channels.

Thank you for your continued support of the Stegall Seminary Scholarship Foundation.

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Stegall Seminary Scholarship
Endowment Foundation
P.O. Box 241661
Montgomery, AL 36124
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“Then I heard the voice of the Lord saying, ‘Whom shall I send? And who will go for us?’ And I said, ‘Here am I. Send me.’” Isaiah 6:8