As year-end approaches and individuals begin considering their charitable giving goals for 2023, it is important to consider not just the charities to support, but also the most tax-efficient way to contribute.

In this episode, we discuss how qualified charitable distributions (QCDs) directly from your IRA to charity may be the most tax efficient way for individuals who are at least age 70 ½ to fulfill their charitable goals. Since QCDs are excluded from income, individuals are able to lower their taxable income and reduce their tax obligation – even without itemizing their deductions.

If you are interested in learning how to minimize your tax burden and maximize the impact of your charitable giving, we think you’ll enjoy this episode. Thanks for listening!

For more details on qualified charitable distributions, check out our blog post covering the same topic at https://pw-wm.com/learn/tax-planning/using-your-ira-for-tax-efficient-charitable-giving/.