piggy bank

Avoid the Frustration

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By Judy Held Here’s an idea for Catholics who may be frustrated by the “Required Minimum Distribution” rules if they have an IRA and are at least age 70 ½ or older: Don’t take the distribution. Instead, have it sent directly to the Church (and/or other favorite charities). That way, you will avoid increasing your taxable income in 2019 and you will make a wonderful charitable gift! This is often called the “IRA Charitable Rollover”. Rolling over part or all your IRA’s “required minimum distribution” or “RMD” to a charity, like the Catholic Foundation of Eastern Montana, can help reduce your tax bill while you designate which permanent endowment you want your gift to benefit. It can be for your local parish, Catholic school, ministry of the diocese, or Catholic organization (located in our diocese). Just be sure to have your IRA administrator send your gift, along with your instructions, directly to the qualified charity. Caution: If the income first comes to you, and then you send it along to the Church or another charity, you will still have to claim it as income. And while your donation to the Church will be tax-deductible, it won’t help you on your taxes if you don’t itemize your deductions. Making an IRA Rollover Gift is Easier Than Ever Contact your IRA administrator. Because of the popularity of the rollover, most administrators provide forms and a procedure to help you make a rollover gift. Remember: You may transfer up to $100,000 from your…

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jesus

Five-Loaf Believers

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by Judy Held I don’t even know Lou Lotz, but he caused a lightbulb moment for me this week. Mr. Lotz writes daily devotionals I sometimes read and he reflected recently on a story from the Gospels that mentions a boy with some food to share. Most of you have probably heard this story hundreds of times. I’ll digress to say that lucky me gets to interact with many good-hearted people, who truly care about the Catholic Church and its future, through my work at the Catholic Foundation of Eastern Montana. I can tell you, however, that way too often I hear laments from these good people such as, “I wish my gift could be larger”, or “It probably won’t make much of a difference, but…”. Maybe I should respond, “On the contrary, your five loaves and two fishes will feed thousands.” You see, about the miracle Jesus performed when he fed the multitudes with just five loaves and two fishes that a boy had to offer (John 6: 1-15), Lou Lotz writes: “Wouldn’t it have been just as easy for Jesus to create the whole meal out of nothing, and wouldn’t that have been an even greater miracle? Yet, Jesus ‘took the loaves’ (v. 11). Why? Perhaps to demonstrate that even meager resources, in his hands, can accomplish great things. “ Isn’t that the truth! Jesus was always showing us through his actions and words that as God’s children, we are compelled to share what we have, and no…

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sunset

Is a Sunset on the Horizon?

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by Judy Held Montanans have been fortunate to enjoy the “Montana Charitable Endowment Tax Credit” for more than 20 years. This year may be the last year, however, since this generous tax benefit is but temporary and set to sunset at the end of 2019. Our state legislators may extend this tax credit that is helping our beloved state in so many ways, but we don’t yet know. I’ll keep you posted in future issues of “The Harvest”. What is certain is that we have the remainder of this year to fully utilize the Montana Charitable Endowment Tax Credit to help us, as individual Catholics (40%) and through our businesses (20%), to build strong futures for our Catholic parishes, schools, and organizations by making qualifying gifts to permanent endowments. Contact me for more information about how you might personally benefit from this tax credit this year. It’s simple! Please call (406) 315-1765 or send me an email at [email protected] I have had the privilege to work with hundreds of Catholics in our diocese who have decided to put their tax dollars to work for the Church in this way and I would love the opportunity to help you, too.

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