If you are considering a charitable contribution this year, it is in your best interest to seek out the most effective manner in which your money can work for you. Gifting your Required Minimum Distribution (RMD) is one of the most effective means of tax savings available.
Qualified Charitable Distribution: Individuals age 70½ or older are mandated in taking a Required Minimum Distribution (RMDs) from their tax-deferred retirement accounts including Traditional Individual Retirement Accounts (IRAs) as well as other employer-sponsored retirement plans.
Benefits of a Qualified Charitable Rollover:
- Avoid income taxes on transfers of up to $100,000 from your IRA to Phantom Regiment
- Satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of Phantom Regiment