Are you required to take Required Minimum Distributions (RMD) from your IRA and routinely donate to charities?
Are you concerned about increasing your income and potentially effecting the cost of your Part B premiums or losing the benefit of itemized deductions?
Current tax laws have potentially reduced your itemized deductions and exemptions. If you answered yes to the above questions, tax guidelines allow you to directly transfer funds from your IRA to a qualified charity, thus reducing your adjusted gross income and qualifying as RMD.
If you are interested in speaking about your individual situation, our office is available to navigate you through this potential tax and charitable giving strategy.
