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  • About
    • Mission
    • Staff
    • 50 Years in Western Alaska
    • 50th Anniversary Logo
    • Our Traditional Logo
    • Awards
    • Strategic Plan
  • Schedule
  • News
    • Nome News
    • Climate & Environment/Science
    • Education
    • Elections/Politics
    • Sports
    • Race Season
      • Iditarod 2022
      • Iron Dog 2022
    • Profiles & Features
    • Public Safety
    • Seeking Protection Wanting Justice
  • Weather
  • Programs
  • Careers
    • Job Openings
    • Volunteer
  • Contact
  • Give
    • Friendraising

Year-End Opportunity for IRA Donations

By KNOM Radio | December 26, 2014
Dollar bill close-up, George Washington

This just in! Those over age 70 1/2 who may wish to donate to KNOM in the last few days of 2014 directly from their IRA now have an extra incentive to do so: special tax deductions.

Per legislation signed into law on December 19, 2014, it is, once again, possible to make tax-favored charitable gifts directly from traditional IRA and Roth IRA accounts and reap a tax deduction benefit in the process.

The December 19th legislation extends this special window to include gifts completed this calendar year (2014). IRA gifts completed by December 31, 2014 will count toward the required withdrawal amounts for IRAs.

Those who elect to donate to KNOM Radio directly from traditional IRAs or Roth IRAs can avoid federal income tax for gifts totaling up to $100,000. Savings on state income taxes may also be possible.

If making these types of IRA donations, it’s important not to withdraw funds prior to the gift but, rather, to distribute the funds directly from an IRA to the charity. Those who have check-writing privileges on their IRA accounts may find this the most efficient way to make gifts.

As always, feel free to contact our business department or consult your IRA administrator or accountant for more information.

Posted in The Nome Static, Year-End 2014 and tagged charity, donation, IRA, legislation, retirement account, Roth IRA, tax deduction
← 600 Issues: from 1966 to 2014A Deeper Look at Our Finances →

PRAYERS

Join us in praying the Chaplet of Divine Mercy, the Holy Rosary, and a prayer novena to St. Kateri Tekakwitha.

The daily 'Homily for the Homebound', by Fr. Ross Tozzi, can be heard here.

Click below to listen to a special prayer Novena for the end of the coronavirus pandemic.


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"HAPPY BIRTHDAY", WESTERN ALASKA-STYLE

A vintage photo of an igloo on a field of snow and ice, with a pair of snowshoes and a handwritten sign that says “Happy Birthday from Nome.”
Listen to a few distinctively Western Alaska versions of the Happy Birthday” songs heard each day during Hotlines.

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