Give to Your Church Tax Free: Qualified Charitable Distributions (QCD)

If you give to your church every Sunday, there is a way to do it completely tax free if you are over age 70.5! Today Rosario explains why most retirees get zero tax benefit from their charitable giving, and how a QCD lets you give the same dollars to the same church directly from your IRA, with the gift never appearing in your taxable income. Want to see how this fits your own numbers? Take our free Retirement Readiness Check: https://www.red7wm.com/donate-to-chur... Or call our office: (619) 704-0140 – – – – If you take the standard deduction, as most retirees do, your weekly giving is probably producing no tax benefit at all. Not low. Zero. In this video: Why a deduction only helps if you itemize, and why most retirees no longer do The math: a married couple's standard deduction stacks to nearly $48,000 A real household: $12,000 to church, $20,000 itemized, zero tax benefit Not a deduction, an exclusion, and why that is the whole point The four things that define a QCD: age 70½, $111,000 per person, counts toward your RMD, adds $0 to your income Your church qualifies automatically The window between 70½ and your RMD age (73 or 75) Why a QCD never touches your AGI, Medicare IRMAA, or Social Security taxation What if you give every week? Options for working with your IRA custodian What to watch: no 401(k), no donor-advised fund, nothing in return, keep the receipt California recognizes QCDs too – – – – 0:00 Your giving may be earning you nothing at tax time 0:23 The fix: a qualified charitable distribution 0:40 How a QCD works 0:53 Not a deduction, an exclusion 1:12 The math that changed 2:33 Same dollars, same church, huge tax benefit 2:55 Four things that define a QCD 3:48 Does my church qualify? 4:08 The window nobody talks about 5:27 One number, three consequences: AGI, IRMAA, Social Security 6:13 But what if I give every week? 6:38 Check with your IRA custodian 7:29 A few things to watch 8:09 Good news for Californians 8:30 What to do next – – – – #qualifiedcharitabledistribution #QCD #retirementplanning