American law gives taxpayers the option to either keep track of their deductible expenses or use a standard deduction to determine their federal taxable income.
Since 2006 it has been possible for individuals aged 70½ or older to make outright charitable gifts from a regular IRA that cumulatively do not exceed $100,000 per year.
Donors and dynamic alumnae Paula Bonner MS’78 and her spouse, Ann Schaffer ’72, MS’75, MFA’93, have an enduring and inspiring history with UW–Madison that spans more than 45 years.
Do you know the essential elements of an estate plan? Read more to learn what they are and why estate planning is so important.
If you are charitably inclined, own an individual retirement account (IRA), and are aged 70½ or older, you can make contributions directly from your IRA to qualified charitable organizations.