Believe it or not, the end of 2024 is fast approaching. It is a hectic time but it’s also a great time to consider your charitable giving. As you review the performance of your investments over the past year, we hope you will keep The Akron Rotary Foundation in mind! Recent stock market rallies might make donating appreciated stock a smart strategy to avoid capital gains taxes. Check with your tax advisor to be certain of the benefits.
For us seasoned citizens, remember that you can donate from your IRA . If you own a traditional or inherited IRA and haven’t yet taken your RMD for 2024, you can transfer up to $105,000 directly to charity and avoid paying taxes on the distribution. This-savvy financial strategy is available to all IRA owners beginning at age 70 ½.
Regardless of how you choose to give (or the amount!), please remember the Akron Rotary Foundation with a gift that helps many of our local causes.
Have a great holiday season!
Doug Kohl, President
Akron Rotary Foundation
