Pay Dues and/or Donate to Lakes Area Alano

Lakes Area Alano  is now accepting dues and donations online through PayPal.   You may use a Credit/Debit Card or your Paypal account.  When making the donation please fill in the comment section (Instructions to merchant)  with information  about the donation.   Example would be “I’m paying Novembers dues” or “I would like to help the Lakes Area Alano”

The primary purpose of the Lakes Area Alano Association (LAAA), a 501(c)(3) charitable organization, is to encourage, foster, promote and enhance the sobriety of recovering alcoholics, addicts, and their families by providing a safe and sober environment for those in the program. LAAA works with local treatment facilities, DWI and Drug courts doing everything possible to ensure lasting recovery for alcoholics, addicts, and their families, one day at a time. We provide the facilities, resources, and amenities, for recovering alcoholics, addicts, and their families to achieve lasting positive lifestyle changes. Our ultimate goal is to be there for those in need and offer opportunity for continued healing.

IRA and 401(k)s – Charitable Contributions

After years of contributing to tax-deferred 401(k)s and IRAs, income tax is due on that money when you take withdrawals in retirement. Annual withdrawals from traditional retirement accounts are required after age 70 1/2, and the penalty for skipping a required minimum distribution is 50 percent of the amount that should have been withdrawn. However, if you are in the fortunate position of not needing your distribution for living expenses and are charitably inclined, you can avoid income tax on your required withdrawal by donating your money directly to a qualifying charity. Here’s how a qualified charitable distribution from your IRA can be used to help others and reduce your tax bill.

Meet the requirements. IRA owners must be age 70 1/2 or older to make a tax-free charitable contribution. Those who meet the age requirement can transfer up to $100,000 per year directly to an eligible charity without paying income tax on the transaction. If you file a joint tax return, your spouse can also make a charitable contribution of up to $100,000, meaning couples can exclude up to $200,000 of their retirement savings from income tax if they donate it to charity. If you donate more than the maximum allowable amount it is considered income and could be subject to income tax. Qualified charitable contributions must be made by December 31 each year in order to exclude that amount from taxable income.

Charitable contributions can only be made from IRAs, not 401(k)s or similar types of retirement accounts. So you might need to roll funds over from a 401(k) to an IRA if you want to make tax-free charitable contributions part of your retirement plan. You don’t need to itemize your taxes in order to make an IRA charitable distribution. However, you cannot additionally claim a charitable contribution tax deduction on a charitable distribution from your IRA. “You are not getting taxed on this money, so you don’t get to count it as a charitable deduction in addition,” says Jill Schlesinger, a certified financial planner and Senior CFP Board AmbassadorRemember to request an acknowledgment of the donation for tax purposes if you don’t receive it automatically.

Lakes Area Alano is a 501c

Since the height of the recession in 2007, stocks have almost doubled in value. If you’re fortunate enough to own stock that has gone up in value since you purchased it, you should consider giving some or all of it to your favorite charity. This will not only help a good cause, but enable you to reap substantial tax savings.

Gifts of stock and other securities are a popular way to give to charity. Gifts of securities include not only publicly traded stocks like Microsoft or Wal-Mart, but gifts of mutual funds, Treasury bills and notes, corporate and municipal bonds, and stock in non-publicly held companies. It’s extremely easy to give stocks and other securities that are marketable—that is, are sold to the public on stock exchanges or over-the-counter markets. No matter how large the donation, there is no need to obtain an appraisal. The value is simply based on what the stock or other security sold for on the exchange on the day of the donation (the average price between the highest and lowest quoted selling prices on the donation day is used).

Donations are suggested.  Please contact your personal investment adviser and/or tax advisers for up to date information and current donation rules/laws.

Contact Raymond James at Bremer Bank for additional information

Bremer Investment Services: 
321 S 7th St., Brainerd, MN 56401
218.855.5556 - 218.829.1485 -