An IRA is an appealing way to save for retirement: Make a contribution and enjoy tax savings. But eventually, the tax bill comes due—when you take your annual distributions and again when you leave your assets to heirs. If you want to avoid the tax bite and make an impact on the wild things and wild places of Texas, consider a gift to Texas Parks and Wildlife Foundation (TPWF).
1. Make Your Gift Today
If you’re 70½ or older, you can make a tax-free gift (up to $105,000 in 2024) to TPWF. Benefits include:
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- See the difference you’re making today.
- Pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction.
If you are required to take minimum distributions, your gift can satisfy all or part of your obligation.
2. Magnify Your Impact After Your Lifetime
You can name TPWF as a beneficiary of your retirement account. This is a great option for extending support from your IRA beyond your lifetime. It costs you nothing today.
Here’s how:
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- Contact your IRA administrator for a change-of-beneficiary form, or simply download a form from your provider’s website.
- Name Texas Parks and Wildlife Foundation and the gift percentage on the form.
- Let us know about your plans so we can thank you.
We can help!
Whether you make your impact with a gift to Texas Parks and Wildlife Foundation today or after your lifetime, your gift in support of our state’s lands, waters and wildlife matters. Contact Amy Allen at 469-895-9514 or aallen@tpwf.org today and learn how you can keep Texas wild for generations to come.
Information contained herein was accurate at the time of printing. The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.
