Mt. Pleasant Lutheran Church

Roth IRA Conversion & Charitable Giving

Are you considering converting your traditional IRA to a Roth IRA? You may be able to lessen the tax impact through charitable giving and this could be the ideal time to take advantage of the opportunity.

Mt. Pleasant Lutheran Church Endowment Fund can assist you in identifying charitable giving options that complement your financial goals, including a Roth IRA conversion. A common issue with converting to a Roth IRA is how to pay for the income tax generated from the conversion. Consider giving cash, stock, mutual funds or real estate to the Foundation and receive a charitable deduction that may be used to offset some of the taxable income generated from a Roth IRA conversion.

BENEFITS OF GIVING

By making a charitable gift along with your Roth IRA conversion, you can offset tax liabilities associated with the Roth IRA conversion. Plus, you can:

  • Fulfill your charitable giving goals, involving family in your giving plan if you wish.
  • Create lifetime income along with an income tax deduction.
  • Liquidate real estate, securities or a business to bypass capital gains, create a tax deduction and generate lifetime income.
  • Maximize estate planning with traditional and Roth IRAs. Roth IRA conversions involve important timing and tax considerations. Please consult with your tax or legal professionals prior to making a gift. Gifts to charity are irrevocable.

 

FOR MORE INFORMATION about the Mt. Pleasant Lutheran Church Endowment Fund, please contact: MPLC member and Endowment Fund Treasurer, Dave Zuelke at 262-210-6299 or email davezuelke@gmail.com ; or MPLC Member and Thrivent Financial Consultant, Ryan VanDeLoo at 414-856-9900 or email Ryan.VanDeLoo@Thrivent.com

 

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