“Render to Caesar the things which are Caesar’s; and unto God the things that are God’s.” With these words, Jesus asks us to follow the requirements of our government when it comes to paying taxes. But sometimes Caesar gives us a break. Did you know that if you are 70½ years old or older, there is a window of opportunity to make a tax free gift before the end of this year?

The IRS requires mandatory withdrawals from your retirement accounts for most people who are older than 70½. These withdrawals are considered taxable income. However, there is a provision in the tax code—ending this year—that allows you to make a gift directly from an IRA to a charity. This gift of up to $100,000, called a Qualified Charitable Distributions (QCD), is counted as part of your mandatory withdrawal but is not considered taxable income.

You can use this blessing to increase your giving at no additional cost. For example, if you are in the 28 percent tax bracket and make a $1,000 gift from your IRA without the benefit of a QCD, you will also have to pay $280 in taxes on the withdrawal for a total cost to you of $1,280. But, with the benefit of a QCD this year only, you could make a $1,280 gift, and your total out-of-pocket cost would remain the same: $1,280. That’s a 28 percent larger gift at the same cost to you!

What a blessing to be able to give more to God’s work! But, like all good things here on earth, this opportunity will come to an end. After December 31, 2013, the QCD provision will expire, and once again Caesar will demand his portion. Don’t miss out on the blessing that has been afforded us—to be partners together bringing the Gospel to the unreached with the help of your QCD in 2013.

For more information about QCDs, please contact me at 1-800-937-4236, ext. 103 or email jpetty@afmonline.org.

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