The New Tax Scene for 2013
Congress passed the American Taxpayer Relief Act of 2012 on
January 1, 2013. The wide-ranging law affects taxpayers in a
variety of ways. One key feature is the extension of the IRA
Charitable Rollover for 2013 which allows many IRA owners to make a
tax-free distribution directly to charity from an IRA.
The law will make an impact on how people plan going forward -
including how they meet philanthropic goals.
Most people will not see their income taxes go up in 2013, but
there is a new top income tax rate of 39.6% and renewed limitations
on higher-income taxpayers for taking itemized deductions and
personal exemptions. What is positive about the new law is that
certain provisions are now permanent:
- Deductions and credits that once depended on an update every
- The increased AMT exemption will be adjusted for inflation
- The estate/gift tax rates and exemption amount are set.
Charitable giving can be a rewarding part of your personal
planning. Please contact us for more information about giving
options and the new tax law.
Gift planning enables you to leave a
legacy at Butler University and support future generations
of students. We would be pleased to help you and your advisors
develop a gift plan that meets your financial and philanthropic
There are numerous ways to remember Butler in your estate plans,
including bequests, insurance and retirement plan beneficiary
designations, and charitable gift annuities or charitable trusts.
In fact, many of these ways provide benefits for both you and
We recognize all alumni and friends who have remembered Butler
through their estate plans by inviting them to join the Fairview
Heritage Society, Butler's society for planned gift donors.
Please look around and explore the benefits of gift planning, and
contact our office if we can ever be of assistance or service.