dh003i
Nov 1 2004, 07:47 PM
I'm very closely involved with a non-profit institute, which has charity status by the IRS (contribs to it are tax-deductible). Is there a way to get the money from a 403(b) contributed to these organizations upon my (distant future) death free of the income-taxes that normally occur when you do withdrawals?
mbozek
Nov 2 2004, 10:37 AM
Name them as the beneficaries of your retirement benefits. All charitable contributions are exempt from estate taxation. There is no income tax on a transfer after death.
dh003i
Nov 2 2004, 04:56 PM
Great! Thanks for the helpful info. Now I can plan accordingly (namely, if I need to use the money in my retirement accounts, I'll use my 403b money last, to possibly avoid being taxed on it at all).
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