Give Now Instead of Later
Do you need another reason to look forward to turning 70½? How about the fantastic Qualified Charitable Distributions (QCD) option? What’s a QCD? The Wall Street Journal explains: “A Qualified Charitable Distribution is a withdrawal from an Individual Retirement Account that is sent directly to a charity. In other words, funds don’t pass through your hands. You instruct your IRA custodian to send the money straight to the group or groups you specify.” You must be 70½ to make the donation, and doing so allows you to give to a cause you care about AND reduce your taxes. And since a new tax law took effect this year, you’ll need to take advantage of the QCD before December of 2018.
There are many reasons to give, but giving now instead of later lets you witness the impact of your gift.