Mike Milligan explains qualified charitable distributions, a tax-free way for people 70½ and older to give directly from an IRA to charity. QCDs count toward your required minimum distribution, so you can satisfy that obligation while giving to causes you care about.
What is a qualified charitable distribution and how does it work, Mike? Well, a qualified charitable distribution is a payment directly from your IRA to the charity. Now, you have to be over 70 and a half years old to do this. But if you're given money from your checking account, right, and you've got this money set in an IRA, you might as well keep the money in your checking account because that money has already been taxed and use the money in your IRA to make A tax-free payment to charity. The good news for that too, by the way, Gary, is if you're, if, if you have to take RMDs, those gifts to charity from your IRA as qualified charitable distributions not only still go tax-free to your, the charity you choose, but they also count as your required minimum distribution. Right. So it's one of the most tax-efficient ways for retirees to give, and it's a great way to turn generosity into strategy.
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
