Karen Devemark, Director of UNIDOS EN FÉ’s Post

💡 Tax-Smart Giving: RMDs Meet Charity 🎁 70½ or older? Here's a game-changer: Qualified Charitable Distributions (QCDs) let you: ✅ Satisfy your Required Minimum Distribution (RMD) ✅ Support your favorite causes ✅ Potentially lower your tax bill 🔢 By the numbers: Donate up to $105,000 annually Directly from your IRA To qualified charities 🏆 Win-win: Meet IRS distribution rules while making a difference!

People over the age of 73 should consider qualified charitable distributions – or QCDs – when planning for the 2024 tax year. A great benefit of making a QCD rather than a cash gift to a qualified charity is that, in some cases, one may stack the QCD amount on top of the charitable donation amount to further reduce taxable income.

Have you heard about IRA charitable gift annuities? Read this article by the Wall Street Journal to see how you can use your tax-deffered IRA to spread the wealth to your favorite charity! Consider making your gift to FentanylSolution.org today! #makeyourmoneyworkforyou #nonprofitorganization

People who want to claim deductions under section 80G need to ensure that the organization they are donating to falls under the purview of this Act. Only the donations made to registered and valid charitable institutions qualify for suitable deductions. Trusts and charities need to be registered under Section 12A post which they qualify for the 80G certificate. Individuals are advised to check the credentials of an organization before donating to it. #charitydonations #incometax #section80G #taxbenefits

Have you considered a giving budget? Being more strategic in your charitable giving can be good for both you and the charities you support. Find out more in our newest issue of Charitable Giving. tinyurl.com/y8d2ac56

Did you know a Charitable Gift Annuity allows you to make a meaningful donation while receiving steady income? With this strategy, you can donate an upfront lump-sum to a charity and enjoy payouts on a fixed schedule for the rest of your life. Upon your passing, the charity retains any remaining annuity funds. It's a win-win way to support the causes you love and secure your financial future. Learn more about how this strategy can benefit both you and your chosen charity in the full article on Ameriprise: https://bit.ly/3SZw9cd #CharitableGiving #FinancialPlanning #FlammioFinancialGroup

Planning to claim deductions for donating valuable items to charity on your tax return? Don't forget, you might need an appraisal! The IRS has guidelines for donors and charities to substantiate charitable contributions for tax deductions. Stay informed and ensure your contributions are properly documented! #TaxTips #CharityDonations #IRSRequirements #AlegriaAdvisors

Thinking of making a Qualified Charitable Distribution (QCD) from your IRA? Make sure you meet these three key requirements first: 1. You must be age 70 and a half or older at the time of distribution. 2. The donation must go directly from your IRA to the charity- no detours through your bank account. 3. The 2024 QCD limit is $105,000 per person, and it can count toward your Required Minimum Distribution (RMD). Following these rules could mean tax-free giving! 

In the current cost of living crisis both individuals and charities are clearly feeling the strain. By taking tax advice on charitable donations individuals can derive a number of benefits from the way in which they structure their giving. Evelyn Partners recommends considering the most tax efficient way to make larger donations. Learn more: https://bit.ly/3unrFTv #giving #donations #taxefficiency

Gifts to charitable remainder trusts can provide tax benefits for donors. Discover the power of the Charitable Remainder Trust (CRT) for optimizing your taxes and supporting causes you care about. Convert appreciated assets into an income stream while securing future contributions to your preferred charity. Learn more on how this tax-advantaged strategy works to offer immediate charitable deductions and provide income to the donor or another person. https://bit.ly/42kuCkw