Episode 30: Qualified Charitable Distributions

Episode Summary

June 15, 2021 | 00:18:20 | E30

In this brief but informative podcast, Karl Frank, CFP, Mike Miller, CPA and Nathan Merrill, JD, discuss the QCD: Qualified Charitable Distribution. Learn the benefits and drawbacks of pulling money out of a retirement account and giving it to a charity. The Qualified Charitable Distribution (QCD) is a great way for someone to give money directly to a charity and avoid taxes. For people who file a Simple 1040 tax return, the QCD is often a great decision. It saves having to file a more complicated tax return and then itemize your tax deductions. Learn why wealthy people also enjoy the QCD, including some benefits to their beneficiaries. Learn about the annual gifting limit, the types of charities, and more. Get some good ideas about how you might implement this in your financial plan.

Also read our blog: Qualified Charitable Distribution (QCD): A Tax-Efficient Way of Donating From your IRA