01.25.2024 - By Douglas Goldstein | CFP® | Profile Investment Services
Yosefa Uber, an expert accountant specializing in American taxes for residents of Israel, sits down with Doug to go over: Qualified Charitable Distributions (QCDs) allow you to donate money from your IRA directly to charity tax-free instead of taking required minimum distributions To qualify, the money must go directly from your IRA to the 501(c)(3) charity - You can donate up to $100,000 per year per individual this way Benefits: Helps you meet your required minimum distribution without paying tax, allows you to donate to charity tax-free Eligibility: You must be over age 70.5 when making the donation Keep receipts as documentation even though the distribution doesn't show up as taxable income Consider connecting your investment advisor and accountant so they can coordinate advice Resources: Interview guest Yosef Huber provides US tax services for Americans in Israel (hubertaxcpa.com) If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.