AMES GOLDEN K KIWANIS

“dedicated to improving the world one child and one community at a time”

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“WHAT’S  NEW”

Announcement

Golden K Members

There is an unique opportunity available for donations to charities which includes the Ames Golden K Foundation or the Kiwanis International Foundation, Project Eliminate that expires soon.  It involves a rollover from an individual’s Individual Retirement Account for taxpayers whose age is 70 ½ or older.  Until December 31, 2013, taxpayers in that age bracket can transfer up to $100,000 to charities from their IRAs without counting them as income for federal income tax purposes.  This opportunity expires on December 31^st.  If you wish to take advantage of this opportunity, there is a sample form available from KI that can be used for Project Eliminate donations.  The form will also work for donations to Golden K Kiwanis Foundation.  Contact Larry Trede for a copy of this form.  Also, you should consult with your legal or tax advisor about this possibility to see if it fits your situation. This exclusion is part of H.R.8 – the Taxpayer Relief Act of 2012 for the 2013 tax year.

Larry Trede

Club Secretary