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The ABCs Of Using Your Retirement Account For Charitable Giving


One of our firm’s clients is a husband and wife named Bonnie and Clyde. Really, those are their actual names.

Bonnie and Clyde - or B&C, for short - are very generous people and recently came into the office to discuss charitable giving. Part of that conversation revolved around a strategy for the couple’s Required Minimum Distributions, their RMDs, from their qualified retirement accounts.

As it happens, there are ways to use what’s called a Qualified Charitable Deduction (QCD) to lower Adjusted Gross Income (AGI). Kim Laughton, President of Schwab Charitable, says that retirees over the age of 70-and-a-half who “don't need that distribution, if they have means outside of their IRA to be funding their life and don't want to take the distribution and be taxed on it … have the option of donating up to $100,000 of that distribution to a charity.”

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Julian Schubach is an Investment Advisor Representative of Nosuris, Inc., a New York State Registered Investment Advisory. Investment Advisory Services are offered through Nosuris, Inc., a NYS Registered Investment Advisory. Please visit www.Nosuris.com for additional disclosures. Check the background of this firm on FINRA’s BrokerCheck.

©2016 by Julian Schubach