Need help with RMD Donations for Places to Age?

DO YOU WANT A SMART WAY TO DONATE THAT GIVES YOU NOT JUST A TAX DEDUCTION BUT ALLOWS YOU TO MEET YOUR RMD REQUIRMENTS WITHOUT INCREASING YOUR TAXABLE INCOME

An RMD is the annual Required Minimum Distribution that you must start taking out of your retirement account (your IRA) after you reach age 73. The amount of your RMD is determined by the fair market value of your IRAs at the end of the previous year, factored by your age and life expectancy.

A Qualified Charitable Distribution (QCD) is a tax-efficient way for individuals who are 70.5 years old to donate directly from their IRAs. These donations can satisfy one’s RMD without increasing one’s taxable income. This is a huge benefit for those looking to reduce their tax burden while supporting causes they care about.

Once someone reaches a certain age (currently 73), they must start withdrawing a minimum amount from their retirement accounts annually. QCDs are a way to fulfill this requirement, with the added benefit of making a charitable donation.

Here's How It Works:

1. **ELIGIBILITY**: you must be 70.5 years old or older
2. **IRA TRANSFER**: the donation comes directly from your IRA to a qualified charity – and yes, Places to Age is a qualified 501.c.3 charity
3. **TAX BENEFITS**: The QCD allows the amount transferred to avoid being included in your taxable income, which is beneficial for individuals who don’t itemize deductions but still want to give charitably

While I can’t give you tax advice, I can help you with the logistics of the process. Please give Andi Bruno a call and she will give you resources and point you in the right direction for either a one-time QCD donation or a recurring QCD donation. 

Andi Bruno   650.776.6229   aobcolorado@gmail.com