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The little-known way seniors can deduct gifts to charities

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If you’re 70 ½ and older, you should use your IRA to make tax-advantaged charitable contributions, generally known as Certified Charitable Distributions. The taxable earnings generated by taking the cash out of your IRA is offset by subtracting the QCD out of your reported retirement earnings. QCDs are nowhere as well-known as they need to be. Solicitation season is a superb time to start out occupied with them.

https://www.washingtonpost.com/enterprise/2021/10/28/tax-strategy-ira-qcd-charitable-donation/?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | The little-known method seniors can deduct presents to charities

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