Tax-Wise & Medicare-Wise Charitable Giving Today
If you are at least 70 1/2, you can make annual charitable gifts through your IRA. At your direction, your IRA custodian will transfer the gift you designate directly from your IRA to a qualified charity. This is known as a Qualified Charitable Distribution, or QCD.
*For those 72 or older, this QCD may satisfy all or part of your Required Minimum Distribution, or RMD.
Potential tax & Medicare advantages are listed below. Each IRA company has instructions for making a QCD. If you need help getting QCD directions for your IRA company or we can help in any other way, please contact us.
You may also name a charity as a beneficiary of a portion of your IRA or other retirement asset upon death. This can be a tax-wise and simple way to make a legacy gift. You can use pre-tax basis retirement assets to fund your legacy gift and leave other non-taxable assets to heirs. Naming beneficiaries for your retirement assets is done using your beneficiary form, not your will or trust. Please contact us to learn more about this simple and impactful gift option.
You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.
If you would like a handout about the IRA Charitable Rollover, either by mail or electronically please request one here.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.