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Do More with Your IRA
Did you know your IRA is a tax-smart way to support Along Side Ministries?
If you are 70 ½ or older, the IRS allows you to make a qualified charitable distribution (QCD) to charity. This scenario is ideal for philanthropic people, as they may not necessarily need a distribution.
How it works
IRA charitable gifts are excluded from gross income for federal income tax purposes. If you are 73 or older, the transfer can count toward your required minimum distribution (RMD) for the year.
Consult with your financial advisor or attorney about utilizing your IRA for charitable purposes; they may be able to reduce your future tax liability to non-spousal beneficiaries.
Transfers must be made directly from a traditional IRA account by your IRA administrator to a qualified charity, such as Along Side Ministries. Currently, the annual limitation is $108,000.
