52 Nebraska Cattleman November 2023 What Is a Charitable IRA Rollover? A Charitable IRA Rollover is a simple, tax-wise method for fulfilling your charitable goals. At your direction, the custodian of your IRA can transfer money from your IRA directly to a qualified public charity, like Nebraska Community Foundation or to Nebraska Community Foundation for the benefit of the affiliated fund of your choosing. This gift is a qualified charitable distribution (QCD), which is often called a Charitable IRA Rollover. To make a Charitable IRA Rollover gift, you must be at least age 70.5, your gift must be made from a traditional IRA, and you can give up to $100,000 per year. Other benefits: • Your Charitable IRA Rollover may count as your required minimum distribution (RMD). • It may prevent you from being pushed into a higher tax bracket. • You can reduce your taxable income, even if you do not itemize deductions. • It minimizes the effect on your cash flow; the gift is from your assets, not your checkbook. • It allows you to make a significant gift to support your community and/or other charitable wishes. Remember, you should always consult your professional advisor to assess your specific circumstances. I am happy to join the conversation and discuss the many ways to leave your legacy. Contact me at (308) 5886299. Editor’s note: The Nebraska Cattlemen Foundation contracts with the Nebraska Community Foundation for assistance and expertise with investing assets, fundraising, charitable giving and planned giving opportunities. Jana Jensen serves as the Nebraska Community Foundation contact to the Nebraska Cattlemen Foundation. NC NC FOUNDATION • CONTINUED FROM PAGE 48 Manufacturing Co., an Ainsworth-based company with a 65-year history in the cattle industry. Dude Daniels started Daniels Manufacturing Co. in 1958, building autogates, gates and panels. Eventually, Dude’s son and daughter-in-law, Danny and Teri, took over the company and expanded its scope to include low-stress animal handling equipment. Earlier this fall, Daniels Manufacturing donated a double chute and Bud Box to the Feedlot Innovation Center in memory of Danny, who passed away earlier this year. Ruth Woiwode, Ph.D., a UNL assistant professor of animal welfare and well-being, who has used Daniels Manufacturing equipment for years, helped connect the company to the new facility before Danny’s death. He was excited about the donation, particularly about its educational use. The system will be placed in the processing barn, where cattle will be IANR • CONTINUED FROM PAGE 50 CONTINUED ON PAGE 55
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