Friday, January 11, 2019

Tax-Efficient Charitable Giving of Savings or Retirement Benefits

    In his article, Albert Feuer, discusses how to make tax-efficient donations when using your savings or retirement benefits. He begins the article by explaining how some individuals fund charitable gifts with their savings or retirement benefits. However, unless you donate using money from a Roth individual retirement arrangement, you take a risk that your donation will not be tax deductible. He then discusses how it's generally advisable to use beneficiary designations to make charitable contributions of survivor benefits and that wills or trusts can also be used. However, when using a will or trust one could run into non-charitable tax-planning issues. He also discusses Qualified Charitable Distributions (QCDs), which are an income tax exclusion with no charitable deduction. These are an advisable way to make charitable contributions when someone has substantial IRAs, and has reached the age of 70. To read the full article, click here:<>



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