Tag: qualified charitable distributions
How IRA Owners Can Donate to Charity in 2024
In 2024, owners of Individual Retirement Accounts (IRAs) have a great way to give back to their communities. If you’re 70½ or older, you can donate up to $105,000 directly from your IRA to a charity, under a Qualified Charitable...
Guest Author Joseph J. Lezotte, CFP®, AIF®: Is a qualified charitable distribution right for you?
If you’re a charitably-minded individual at an age that requires you to take a required minimum distribution from your IRA and you don’t need the full amount to support you, a qualified charitable distribution (QCD) may be a good option....
Failure to substantiate charitable contributions could cost you
Substantiation requirements for charitable contributions vary depending on the size and nature of the donations—and taxpayers should be prepared with adequate documentation. While a recent article in Forbes pokes fun at substantiating charitable contributions, it reminds us that the IRS...