Heifer Foundation’s Post

What happens when you turn some of your retirement funds into charitable gifts that support a worthy organization, like JESPY House, while also realizing tax benefits? JESPY clients gain skills to live more independent lives and you accomplish two goals with one action. JESPY friend Gary Jones CFP® shares the tax advantages of making a qualified charitable distribution. Read the full article here: https://lnkd.in/e9-QJ9As

A charitable gift annuity can be a tax-savvy way to support Duke University while securing a fixed income for life. Access our 2024 Charitable Gift Annuities Guide to explore how to establish a gift annuity, learn about the potential benefits, and review sample payout rates. 🔗: https://brnw.ch/21wNYxf

What is a Qualified Charitable Distribution? A Qualified Charitable Distribution (QCD) allows individuals aged 70½ or older to donate directly from specific retirement accounts to qualified charities without recognizing the distribution as taxable income. As you build your legacy, considering how to leverage your charitable contributions can be a fulfilling endeavor. QCDs can offer an opportunity to support your favorite causes and manage your retirement income. Learn More ⬇️ https://lnkd.in/eyqg2jKj #Retirement #Strategy #Finance #Charity

If giving back is part of your retirement goals, Qualified Charitable Distributions (QCDs) may be worth considering. Designed for those 70½ and older, QCDs allow you to donate from an IRA without adding to your taxable income, helping to meet your RMDs, which now start at age 73. The maximum annual limit for QCDs is currently set at $100,000 for 2024, an amount that adjusts for inflation yearly. Check your charity’s status through the IRS, and reach out to a trusted professional to understand any state-specific nuances. #LegacyBuilding #RetirementWisdom #TaxSmartCharity #WealthPlanning https://lnkd.in/ei_D8F4q

If you’re retired and planning a year-end charitable gift, you can maximize your tax break with a qualified charitable distribution, or QCD. The strategy is a direct transfer from an individual retirement account to a non-profit organization. You can use QCDs to reduce adjusted gross income and satisfy required minimum distributions, experts say.

Did you know… If you are at least 70 ½ years old and own a retirement account, the IRS allows you to make up to $105,000 tax-free distributions directly from your retirement account to qualifying charities each year. For married couples, both spouses can utilize this benefit for a potential $210,000 total. In addition, for individuals 73 and over, this distribution also can satisfy the Required Minimum Distribution (RMD). Known as a Qualified Charitable Distribution (QCD), this is a great charitable giving technique for older individuals, allowing them the opportunity to make significant charitable investments while minimizing income tax (and possibly future estate tax) liability. For more information on QCD or other charitable gift planning, call us at 864-949-5800 or email Admin@SCChristianFoundation.org. #disciplinghearts #definingstewardship

Did you know you can reduce your tax burden and fulfill your charitable goals through a Qualified Charitable Distribution (QCD)? Learn how this smart retirement strategy can benefit both you and the causes you care about. #taxstrategy #charitablegiving #retirementplanning #qcdbenefits https://lnkd.in/gAD_-XCG

Did you know there are deductions you may have overlooked in the past? It's time to take advantage of them! From retirement plan savings to medical premiums and charitable donations, explore all possible deductions for both your business and personal taxes. Learn more: https://lnkd.in/ekPaXxcu #financialplanning #businessadvisory #businessplanning

⏳ As the year winds down, don’t miss out on key deadlines that could impact your finances. From retirement contributions to charitable donations, our latest blog covers everything you need to know to stay on track: https://lnkd.in/gwUWWQT5

Are you a high-net-worth individual aiming to make a significant difference while enjoying tax benefits? Check out key charitable giving strategies designed for those with $1 million or more in retirement savings. Find out how to maximize your donations and enhance your philanthropic efforts effectively. Your generosity can truly change lives. Learn more about these strategies here: https://okt.to/TXO06Q. Start your journey to impactful giving today.