In this episode, we dive deep into the world of Qualified Charitable Distributions (QCDs). Join us as we explore how QCDs can be a tax-savvy way to support your favorite charitable causes while benefiting your retirement savings. Brian shares valuable insights and practical tips to help you navigate this powerful financial strategy.
A qualified charitable distribution (QCD) is a tax-free donation from an IRA to a qualified charity. To make a QCD, you must be at least 70.5 years old.
You can use QCDs to manage required minimum distributions from an IRA. The amount of the distribution is based on your age and the account's balance. For example, couples who file taxes jointly can make up to $100,000 in QCDs each year, for a total of $200,000.
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