It's not too early to start your financial planning for the year. Which tax laws can benefit you? Is there a way you can support the Lord's work through Lutheran Hour Ministries (LHM) and take advantage of possible tax benefits?

Yes, there is! The Tax Extenders and Alternative Minimum Tax Relief Act of 2008 allows donors aged 70 ½ or older to avoid tax on Individual Retirement Account (IRA) distributions to charities—only through December 2009. You can avoid tax on a qualified charitable distribution (QCD) of up to $100,000 annually. If you are married, you and your spouse can each give up to $100,000. The gift must go directly from the IRA administrator to a charitable organization like Lutheran Hour Ministries. The QCD is excluded from your federal adjusted gross income. Since the transfer is tax-free, you cannot claim the charitable deduction on your tax return.

Donor Carolyn Johnson of Miami, Florida, took advantage of the opportunity to give an IRA gift through her required minimum distribution in 2008 and also in previous years. She says, "I just feel that Lutheran Hour Ministries does so much good and does things that I can't do to help spread the Word. God has blessed me so much that hopefully I can be a blessing to others."

Visit www.lhmgift.org/ira.htm or call LHM at 1-877-333-1963 for a sample letter and instructions. Remember to consult your financial advisor or tax professional with questions about how an IRA gift will affect you.