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Exciting IRA Opportunity Set to Expire

If there were no tax consequences, would you be interested in giving a portion of your individual retirement account (IRA) to help your favorite charity?

Are you tired of being taxed on mandatory distributions from your IRA?

Provisions in the Pension Protection Act of 2006 may benefit you, however, these added benefits are set to expire on December 31, 2007. To promote charitable giving, these new provisions allow otherwise taxable distributions of up to $100,000 per year from traditional IRAs to be excluded from gross Federal income.

This type of charitable gift might make sense for you if:

• You are at least age 70 — and the charity you choose is a tax-exempt organization to which deductive contributions can be made

• Additional income will cause more of your Social Security income to be taxed

• You do not itemize your deductions

• You already make gifts at your 50 percent deduction limit, or

• Your income level causes the phase-out of your exemptions

Here is how it works: If you are in the 35 percent tax bracket and you withdraw $100,000 from an IRA and keep it, you will pay $35,000 in income tax and keep the remaining $65,000.

However, under the soon-to-expire provisions, making an IRA rollover gift to charity creates no new income to report or taxes to pay. So by choosing to roll over the same $100,000 and donate the entire amount to charity, you pay no Federal taxes and you have the satisfaction of supporting the charity of your choice.

For more information about this exciting opportunity, please contact Gordon Smith at

1-800-423-8891 ext. 1049, or by e-mail at smithg@njc.org .

Remember, this offer expires December 31, 2007 – please contact us quickly!