December 21, 2015 Dear Fellow Parishioner: If you are age 70½ or older and own a traditional IRA, you may be able to take advantage of an important incentive for charitable giving before December 31st and in the years to come. Congress has made permanent and reauthorized for 2015, the provision that allows individuals who are 70 1/2 to make gifts of up to $100,000 per year directly from their traditional IRA accounts to one or more charities without incurring taxable income on the withdrawal. Because Congress acted late last week, you have a limited number of business days in which to act before the end of the year if you wish to make a 2015 contribution. This means that you can direct your gift or fulfill your pledge to Christ Church Cranbrook with no federal income tax liability on your charity designated distribution.   However, there are additional details and restrictions: The gift must be made from a traditional IRA - no other retirement plans (such as 401k, 403b or SEP accounts) qualify. Your gift must come directly to the church from the IRA trustee Although the distribution will be free from income tax, it will not generate a charitable deduction if you itemize on your Form 1040. No double-dipping! If you would like to make a charitable contribution from your IRA, you need only direct your IRA plan provider to make the distribution. Please notify Kathy Doyle, 248-644-5210, ext. 11, parish administrator, the details of the gift (amount, name of IRA provider, etc.) to insure that your gift will be properly recorded. The payment itself has to come directly from the IRA provider. And, more importantly, be sure to contact your tax advisor before taking this step. Sincerely, Pam Bingham, Treasurer Remember - for your gift to count in 2015 you need to act by December 31, 2015. Take me to Christ Church Cranbrook 470 Church Road Bloomfield Hills, MI  48304 248-644-5210