Dear friends of the retreat center,
I am posting this notice as a way for some of you to donate to the ministry here at the Redemptorist Retreat Center. Our official name is Our Mother of Perpetual Help Retreat House. I hope this helps in some way and thank you for your continued support, financially and spiritually by your many prayers and contributions.
Brother Gerry Patin, C.Ss.R.
IF YOU ARE 70 1/2 OR OLDER, PLEASE READ!
As part of the "fiscal cliff" deal in January, 2013, Congress has resurrected a popular tax-law provision, known as the "IRA charitable rollover," that had expired at the end of 2011.
The rule allows many investors 70½ or older to transfer as much as $100,000 a year from an individual retirement account directly to a qualified charity without having to count any of that transfer as taxable income.
The transfer, if done properly, counts toward the taxpayer's required minimum distribution for that year.
However, according to a Senate Finance Committee document, the law is scheduled to "sunset," or die, at the end of 2013.
If you are considering a donation to the Redemptorist Retreat Center, this may be an opportunity to benefit both the Retreat Center and your tax situation! Your tax advisor can provide information to help decide whether this may be an advantage for you.
Incidentally, some people ignore these types of suggestions as they feel their income levels do not warrant these types of arrangements. But, if you use the standard deduction in lieu of itemizing your deductible expenses --- including charitable contributions --- this may still provide you an advantage.
Renewal, Rest and Contemplative Reflection
1800 North Timber Trail Lane
Oconomowoc, WI 53066-4897
(262) 567-6900 · Fax (262) 567-0134