Remember the new IRA qualified charitable deduction option

July 13, 2016 by Tom

The revamped and current qualified charitable distribution option under tax law allows people over age 70½ to transfer up to $100,000 a year directly from their individual retirement account to charity. This gift counts toward their required minimum distribution, but isn’t added to their adjusted gross income the way a normal IRA distribution would be. This, in turn, can provide tax savings of up to 40% depending on a client’s tax situation.

HOW TO GET TO OUR OFFICE:

From the South: Follow I-25 North past C470 to exit 199 for Belleview East, following off the exit to the right. At the third light (Ulster), turn right. Ulster turns into Prentice, and the Edward Building is on the right, which is the southwest corner.

From the North: Follow I-25 South to exit 199 for Belleview east. Turn left at the bottom of the exit onto Belleview. At the third light (Ulster) turn right. Ulster turns into Prentice, and the Edward Building is on the right, which is the southwest corner.