January 6, 2025 / by Brett Hess / Tax
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD basics QCDs can be made from your traditional IRA(s) free of federal income tax. In contrast, other traditional IRA distributions are wholly or partially taxable, depending […]
Read more
Accounting | Insurance | Financial Planning| Call us at 301.698.0795
Senior tax-saving alert: Make charitable donations from your IRA
January 6, 2025 / by Brett Hess / Tax
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD basics QCDs can be made from your traditional IRA(s) free of federal income tax. In contrast, other traditional IRA distributions are wholly or partially taxable, depending […]
Read more