Did you know that, if you are at least 70.5 years old, you can make tax-free charitable donations directly from your IRA? As you know, if you are 72 years old, you are annually required to take minimum distributions from your IRA. But did you know that you can make a donation directly to a charity and that donation is NOT taxable and can be a qualified charitable distribution (QCD)?
It’s easy! In order to make a QCD, you simply instruction your IRA trustee to make a distribution directly from your IRA to Wishes & More! We encourage you to talk to your tax advisors on the benefits of this opportunity and/or to consider a gift in your will or trust. There are several other tax efficient strategies for cash or property that will leave a lasting legacy. Please let us know if there is a anything we can do for you or your professional advisors to support our important work!
(PLEASE NOTE: We are not giving any legal or tax advice; the issues discussed here can be complex. Be sure to consult an estate planning attorney or your tax advisor prior to implementing this or any tax strategy.)