Christmas Open House to Feature Harp Music and Antique Dolls
Harp teacher Cheryl Saltzman (left) and her student, (right) perform at the 2007 Christmas Open House.
If you are 70 and 1/2 years of age or older and are required to make a withdrawal from your IRA accounts before December 31, 2008 you might consider giving some or all of the amount to your favorite charities. In 2008 and 2009 any such gifts from your IRA accounts to a qualified non-profit [like Historic Blooming Grove Historical Society] counts toward your Required Minimum Distribution [RMD], tax free.
Dorothy Haines' Book: Monona In the Making: History of the City of Pride, is available for $20 to give as an excellent Xmas present. [see our website or call Bob Bean at 608-222-5783 for ordering.]
If you put your distribution in your checking account or if you spend it, then the withdrawal must be declared as taxable income. Send your IRA custodian a list [with amounts for each and addresses] of qualified charities you want to give gifts to in time for checks to be issued before December 31, 2008. Then notify each organization the amount you have given, because the IRA custodian doesn't always say who it is from.
