Stop Paying Taxes on Your Donations!

Qualified Charitable Distributions (QCDs) offer a tax-efficient method of supporting your favorite charitable organizations while also fulfilling your Required Minimum Distribution (RMD) obligations. If you are 70½ or older, you can transfer up to $100,000 per year directly from your individual retirement account (IRA) to a qualified charity. This amount can count towards your RMD without being included in your adjusted gross income. Consequently, QCDs can potentially lower your taxable income level, possibly keeping you in a lower tax bracket and reducing the amount of Social Security benefits that are subject to taxes. It’s an effective strategy for those who are charitably inclined and are looking for ways to manage their taxable income in retirement. Watch our latest video to make sure you aren’t paying taxes on your donations!

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