• MICHAEL LOFTUS

The Gift of Giving Through Your IRA

Today we're going to talk about donations from your #IRA that can be tax free, that's right I said tax-free. Qualified Charitable Donations are the following:

▶︎ Available to IRA holders (and beneficiaries) age 70.5 and older

▶︎ Up to $100,000 per year

▶︎ Tax-free transfer of #assets directly from IRA to qualified #charitable organization

▶︎SEP and SIMPLE IRAs generally not eligible

▶︎QCD amounts can be used to satisfy age 70.5 RMD's

▶︎ Potentially could wipe out or reduce the amount your Social Security is being taxed

▶︎ #Charity may be named as an IRA beneficiary

▶︎ Assets would pass directly to charity (outside probate process

#socialsecurity #charitablegiving #retirementplanning


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