For most people, December is the month for giving. But when it comes to taxes, January should be the time to start the planning process for maximizing the tax benefits of donating to charity. One of ...

As the 2024 tax year comes to a close, owners of individual retirement accounts (IRAs) might consider combining the tax benefits of charitable giving with a qualified charitable distribution (QCD) ...

Who can make this kind of gift? People seventy and a half years old and older (even when your required minimum distribution starts at age seventy-three). Yes. An IRA owner can make a one-time election ...

One useful end of year tax strategy that brings with it aid for struggling charities is the QCD or Qualified Charitable Distribution. In fact, there may be few actions providing as much satisfaction ...

Q. We don’t need all the cash we get from our Required Minimum Distributions so we are interested in these charitable donations from an IRA I’ve been reading about to reduce the taxes on the RMD.

If you are at least 70 ½ years old and you have a traditional IRA, you can donate up to $105,000 directly from your IRA account to charity. This direct transfer, called a Qualified Charitable ...

You've been hearing whispers about this strategy for years. Maybe your financial advisor mentioned it in passing, or you ...

LOS ANGELES, CALIFORNIA - NOVEMBER 27: US Senator Alex Padilla volunteers at Project Angel Food for Thanksgiving at Project Angel Food on November 27, 2024 in Los Angeles, California. (Photo by ...

Q. In a recent column, you indicated that I could use the qualified charitable distribution (QCD) option at 70 1/2. I am confused. I thought I did not have to take required minimum distributions (RMDs ...