Using RMD’s towards Charity

John Clouden
Senior Vice President

If you are 70.5 or older and have an IRA, 401k or other qualified account, the federal government requires you to take annual withdrawals known as Required Minimum Distributions, or RMD. If you are someone who makes annual donations to qualified-charitable organizations and are taking RMDs, there is a tax-advantage that you should know about.

You can use the pretax dollars in your qualified accounts to make a donation to a qualified-charitable organization. There are maximum dollar limits that you’re able to donate each year and the donation must be directly transferred to the charitable organization. But this is a great way to help your favorite charities while receiving a tax-advantage.

Set up a meeting with us today to learn more about this opportunity.

Also you can listen to my interview on 106.5FM WYRK where I discuss this topic with Clay Moden.

And watch our commercial on Charitable Donations from Your IRA Distribution

You can catch our weekly Plan.Protect.Invest. segment live on WYRK 106.5FM at 7:10am every Wednesday. Each week we will have a Sgroi Financial planner on with Clay Moden and the WYRK morning show to discuss financial topics to educate and help their listeners.

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