Year-End Tax Planning

Interested in year-end tax planning? These two options may be of assistance to you. We would appreciate your support.


Benefits of Donating Stock to the Scottsdale Museum of the West:

Gifts of stock and other securities are a popular way to give to charity as is Scottsdale Museum of the West, a 501-c-3 organization.

There are favorable tax rules for donors who want to donate long-term (stock owned for greater than one year)

– Donors never have to pay capital gains on the appreciated stock

– Donors receive a deduction equal to the fair market value of the stock at the time the transfer (its increased value)

– No matter how large the donation, there is no need to obtain an appraisal

To download and print the Stock Transfer (DTC) Instruction Form, please CLICK HERE.


Who qualifies?

Individuals who are age 70½ or older at the time of the contribution (you have to wait until your qualifying birthday to make the transfer).

How much can I transfer?

$100,000 each year.

From what accounts can I make transfers?

Transfers must come from your IRAs directly to Scottsdale Museum of the West. If you have retirement assets in a 401(k), 403(b) etc., you must first roll those funds into an IRA, and then you can direct the IRA provider to transfer the funds from the IRA directly to Scottsdale Museum of the West.

To what charities can I make gifts?

Tax exempt organizations that are classified as 501(c)(3) charities, including Scottsdale Museum of the West.

Can I use the rollover to support a particular purpose at Scottsdale Museum of the West?

As with all other gifts, you can direct your IRA Charitable Rollover gift to whatever cause or purpose you choose.

How will Scottsdale Museum of the West count the gift?

We will give you full credit for the entire gift amount.

What are the tax implications to me?

Federal: The transfer to Scottsdale Museum of the West is not recognized as income, provided it goes directly from the IRA provider to the museum.
State: Each state has different laws, so you will need to consult with your own advisors.

Does this transfer qualify as my minimum required distribution?

Yes, once you reach age 70½, you are required to take minimum distributions from your retirement plans each year, according to a federal formula. IRA charitable rollovers count towards your minimum required distributions for the year.

What is the procedure to execute an IRA charitable rollover?

Contact your IRA plan provider to learn their procedures.  Contact us when you direct the rollover so we can look for the check from your plan provider.

To download and print the Request for Direct Charitable Distribution from IRA Form, please CLICK HERE.