Congressional change to IRA plans provides win-win for clients, charities

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By Lindsey Paige Markus

Lindsey Paige Markus, a principal at Chuhak & Tecson P.C., draws on her early career in business, finance and clinically applied neuroscience to communicate with clients and develop creative solutions to fit their estate planning, wealth protection and corporate needs. She has been recognized as one of the 40 Illinois Attorneys Under Forty, a Woman Making an Impact in the Law and an Illinois Super Lawyer Rising Star. She is a collaborative law fellow and is licensed in Illinois and Florida.

Posted February 24, 2016 2:11 PM

Philanthropic taxpayers age 70½ and older should stop and think before taking the required minimum distributions from their individual retirement accounts.Taxpayers who desire to make a donation to a charitable organization may now distribute up to $100,000 from an IRA directly to the charitable organization and the distribution will be considered tax-free. This is a significant benefit to taxpayers because the distribution does not have to be considered part of a taxpayer’s income, translating into tremendous …

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