Episode 253: Gifting From Your IRA
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\\u2019Tis the season for taking your Required Minimum Distributions (RMDs) for the year! That\\u2019s right, if you\\u2019re over 72 years old, you\\u2019ll need to take money out of your tax-deferred retirement accounts. If you don\\u2019t, there is a hefty penalty \\u2013 you will be charged 50% of the amount you were\\xa0supposed to\\xa0withdraw. You might ask, \\u201cWhat if I don\\u2019t need the money?\\u201d In which case we would say, \\u201cHave you ever considered making a Qualified Charitable Distribution (QCD) to a non-profit of your choice?\\u201d This can be given directly from your IRA, satisfying your RMD, and is excluded from taxable income.
We don\\u2019t get to talk about GOOD NEWS very often, but this is definitely a silver lining in retirement planning. Tune in today with guest CPA, Jon Sluis as he talks about this and many other ways to give this season!\\xa0
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