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NEWS ARCHIVES |
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http://money.cnn.com/2008/10/15/news/economy/bailout_tax_credits.moneymag/index.htm Tax-free charitable donations. If you're 70.5 years or older you can withdraw up to $100,000 from an IRA and donate it to charity, tax-free. You can tap a traditional or Roth IRA, but you will typically save more in taxes if you go with the traditional account since you can withdraw your Roth contributions tax-free anyway, says Luscombe. source: CNN Money |
