Northwest Blog

If you are over age 70½, the Federal government permits you to rollover up to $100,000 from your IRA to charity without increasing your taxable income or paying any additional tax. These tax-free rollover gifts could be $1,000, $10,000 or any amount up to $100,000 this year. The gift satisfies your required minimum distribution (RMD) for this year. Not yet 70½?  This law has been made permanent and in the future you may want to take advantage of what it offers. Also, if you are helping someone in this age group with their finances and planning, please consider sharing this information. IRA Rollover Your IRA may have increased in value over the years and you have more income than you need. The IRA rollover gift is a simple and easy way to provide for your favorite charity while not increasing your taxable income. Simply contact your custodian and request that an amount be transferred to charity. The nonprofit receives a nice gift and you avoid any additional tax and satisfy y

The Northwest Minnesota Women’s Fund recently named Deb Zak of Crookston as a 2016 Outstanding Community Builder. Outstanding Community Builder Awards are presented to local women who have demonstrated leadership in improving their communities in their chosen professions, as volunteers, as mentors and in raising or supporting families. Since the inception of this award in 1998, 49 women have been recognized for helping to make Northwest Minnesota a better place to live, work and raise families. A reception in Zak’s honor was held October 12th at the University of Minnesota Crookston. You can read more about Deb here .