"Maximizing RMD's for the Greater Good and Supporting Communities When They Need It Most"

   Craig Showalter

   President/CEO

   Wyoming Community Foundation

Overview

•Funds from an Individual Retirement Account (IRA) can be donated to a charity if done correctly.   This is known as a Qualified Charitable Distribution (QCD)

•The donor can avoid paying taxes on their Required Minimum Distributions (RMD) lowering their adjusted gross income

•The tax break was made permanent in 2015

•The SECURE Act, passed in late 2019, increased the age at which IRA owners must begin required minimum distributions to 72; however, the age for qualified charitable distributions remains age 70½, creating a unique one-to-two-year window in which IRA distributions qualify as charitable contributions, but not as RMDs. (Investopedia 2/2020)

•Communication between the advisor, charity and donor is critical to assure that the donor gets their charitable deduction

•The QCD must be made directly to the charity

  This program is pre-approved for 1 PT CFRE CE credit.

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Many Thanks to our Program Partner!

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