Qualified Charitable Distributions
Even though the new law makes it more difficult to obtain a financial benefit for your charitable donations, all is not lost. If you are over age 70.5, consider taking advantage of the QCD. If you aren’t at that age yet, consider how you can intentionally position yourself to take advantage of these rules once you do turn 70.5. Start by evaluating how much you save in tax-advantaged accounts and how you spend your savings to support your retirement lifestyle. By using, or preparing to use, a QCD, you can meet your RMD requirement, satisfy your charitable intents, all while saving money on taxes both today and into the future.
If you would like more information about Qualified Charitable Distributions, please discuss with a qualified tax advisor.