Do you have an IRA? Are you at least 70 ½ years of age? If so, making a gift through an IRA charitable roll-over may be right for you!
A qualified charitable distribution (QCD) allows individuals who are 70½ years old or older to donate up to $100,000 per year to one or more charities directly from a taxable IRA instead of taking their required minimum distributions. As a result, donors may avoid being pushed into higher income tax brackets and prevent phaseouts of other tax deductions.
How do you do it? It’s simple! Just contact your financial institution and let them know you’d like to make a QUALIFIED CHARITABLE DISTRIBUTION from your IRA to the No. Andover Historical Society.
Please consult with your financial advisor on the tax benefits of a QCD to see if this powerful vehicle is right for you.