Giving More by Being Tax Smart – QCDs
I have often written about the spiritual aspects of being a good steward of our financial gifts from God, recognizing that an important part of worshiping our Lord is thanking Him for our gifts, especially the ultimate gift of salvation. Going a new route, the following article is about the business associated with giving and taxes. Before we begin, let's consider these questions: Are you a senior? That is, are you at least 70 ½ years of age, or soon will be? Do you have an IRA ? Are you a faithful giver to Due West ? Do you love paying more in taxes than you are required to pay? If you answered ‘Yes’ to the first three questions, and ‘No’ to the fourth, you may want to read the rest of this article. Let's talk about a Qualified Charitable Distribution (QCD) . A QCD is a specialized IRS rule that allows seniors to donate money directly from their Individual Retirement Account (IRA) to a qualified charity (like Due West) without that money ever being counted as taxable income....
.png)