In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss things to be aware of about qualified charitable distributions (QCDs) and donor-advised funds. The QCDs and donor-advised funds are great tax benefits strategies, but they make sense in your retirement planning journey in two different scenarios.

Listen in to learn about QCDs, the tax benefits you can take advantage of when donating to charity organizations, and the rules of the strategy. You will also learn more about the donor-advised fund, how to take advantage of itemizing tax returns, and the rules of the strategy.

In this episode, find out:

• Qualified Charitable Distributions – a tax savings contribution you can do out of your IRA.
• The QCDs tax benefits you can take advantage of when donating to charity organizations.
• The rules on when and how to take your QCDs, plus how QCDs can apply to your RMD when done properly.
• Donor Advised Funds – stacking your donations together to take advantage of itemizing tax returns.
• The rules of a donor-advised fund, how to fund this account, and why it’s flexible.
• Understanding where both QCDs and donor-advised funds make sense for you.

Tweetable Quotes:

• “The rule with the QCDs is that you’ve got to be seventy and a half in order to do it; with donor-advised funds, you can do it no matter what your age is.”- Radon Stancil   
• “Once you make a contribution into a donor-advised fund, it’s irrevocable.”- Murs Tariq 

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.