A Tax-Smart Way to Give to Charity
The new tax law makes qualified charitable contributions from IRAs more appealing for many retirees. Contributor Mark Miller explains why.
Giving away money from your IRA is looking like a better bet than ever.
Well, perhaps not just giving it away, but donating to a charitable cause. The qualified charitable distribution permits IRA account owners of a certain age to use IRAs to make direct charitable contributions up to $100,000 annually. If you are charitably minded and older than 70 1/2, QCDs offer a tax-sensible route to giving after last year's Tax Cuts and Jobs Act.