2019 Winter Newsletter

Visit our gift corner We have books, out of print museum books on DVD, brochures of local attractions, numerous historical Paola photos suitable for framing, tee-shirts, hats and some free stuff

Hours for the Museum Open Monday through Friday 10:00 a.m. - 4:00 p.m. Closed Saturday with the exception of special occasions For appointments call: QCD Qualified Charitable Distributions Donations from an IRA fund to meet your IRA Annual Required Distribution to a Charity. Any Donation with QCD are 100% untaxed by the IRS. Normal distributions are subject to federal and state income taxes. Requirements: To Avoid Taxes on Distributions 1. Age 70 1/2 or older 2. Donations made directly by IRA Custodians to 501 charitable group 3. Limit of $100,000 per year per person with IRA 4. Donation made by Dec. 31 of each year given by Custodian Thus, you can give to our museum up to $100,000 per year per person from your IRA as a distribution and pay no taxes on that gift---normal distributions are taxed as a part of your adjusted gross income. The custodian provides a 1099-R form to report on your income tax return. Example: Have your custodian of your IRA give to our museum $2,500(any sum up to $100,000) from your IRA. Will be part of your required distribution but would be exempt from normal taxes that year. A WIN-WIN FOR YOU AND YOUR CHARITY CHOICE Give to Charity---Pay Less Taxes. QCD—for the Endowment or Regular Museum Donation. Timely Tax Information 816-392-0605 913-294-9769

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