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Qualified Charitable Distributions or QCDs
For IRA owners that are charitably inclined, a Qualified Charitable Distribution, or QCD, can be an incredibly useful tool.
Today, Bruce Hosler of Hosler Wealth Management explains the rules around QCD's, including who is eligible to make them, which organizations are eligible to receive them, which accounts can be used, and some very common pitfalls to avoid.
The IRA owner (or beneficiary in the case of an inherited IRA) must be at least 70 1/2 years old, with a limit of $100,000 per year per taxpayer. Also, QCDs are not available in the instances of SEP's, simple IRAs, and qualified plans like 401k's and 403b's.
A qualified charitable distribution can be counted as "above the line" on your taxes, meaning it's not part of your income. Bruce explains how this can be used to avoid a jump in tax brackets, which can sometimes trigger taxes on social security income.
When making a QCD, it's important to make it during the calendar year you are claiming it, make the check payable to the charity, and be sure to go over all details with your financial advisor and tax professional. This can be a great tool if used correctly, but can lead to massive headaches if not done right.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2025 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
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By Bruce HoslerFor IRA owners that are charitably inclined, a Qualified Charitable Distribution, or QCD, can be an incredibly useful tool.
Today, Bruce Hosler of Hosler Wealth Management explains the rules around QCD's, including who is eligible to make them, which organizations are eligible to receive them, which accounts can be used, and some very common pitfalls to avoid.
The IRA owner (or beneficiary in the case of an inherited IRA) must be at least 70 1/2 years old, with a limit of $100,000 per year per taxpayer. Also, QCDs are not available in the instances of SEP's, simple IRAs, and qualified plans like 401k's and 403b's.
A qualified charitable distribution can be counted as "above the line" on your taxes, meaning it's not part of your income. Bruce explains how this can be used to avoid a jump in tax brackets, which can sometimes trigger taxes on social security income.
When making a QCD, it's important to make it during the calendar year you are claiming it, make the check payable to the charity, and be sure to go over all details with your financial advisor and tax professional. This can be a great tool if used correctly, but can lead to massive headaches if not done right.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2025 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler