QUALIFIED CHARITABLE DISTRIBUTIONS
This is a great time of year to take advantage of our planning services, and this is a great tax benefit if handled properly - Judith Waligorski, CPA/PFS/CFP
There are many reasons to explore the potential tax benefits of Qualified Charitable Distributions (QCDs) if:
- You are at least 70 1/2 years of age
- You must take Required Minimum Distributions (RMDs) from your Individual Retirement Arrangement (IRA)
- You plan to donate to a qualified charitable organization such as a 501(c)(3) organization
A QCD is a distribution made directly by the Trustee (at your direction) from your IRA to a qualified charitable organization. Examples of such organizations are government agencies, animal welfare agencies, churches and other religious institutions, and educational institutions.
Before making any charitable contribution, confirm the organization you intend to donate to is a qualified charitable organization.