Your Church Giving Can Cut Your RMD Tax Bill 44% | QCDs After 70½

If you're 70½ and still writing your church a check every Sunday, you're paying tax you don't owe. A qualified charitable distribution (QCD) sends the gift straight from your IRA, it counts toward your RMD, and it never shows up on your tax return. This is for Christians who are retired, have most of their money in a traditional IRA, and give to their church. If that's not you, no hard feelings. I walk through Hank and Peggy Hill, a hypothetical couple, both 75, about $3 million in IRAs, giving $40,000 a year to their church in Ohio. Same church, same gift, same year. Writing the check: $17,203 of federal tax. Giving from the IRA: $9,711. That's $7,492 this year, and by age 90 it's about $125,000 less tax and $225,000 more money, because the tax they didn't pay kept compounding. Then the part people are scared of. It's one phone call, and there's a six-step list in the video you can screenshot. Want to see where a QCD would land on your own return? Free tax return review for Christians within a few years of retirement with $1M+ saved: https://demlandwealth.com/taxreview/ CHAPTERS 0:00 Same church, same gift, two tax bills 1:07 Hank and Peggy at 75 1:36 How the RMD is figured 2:46 Two realities, one return 3:44 Why a QCD beats a deduction 5:04 AGI is a gate 5:57 What the deduction actually bought 7:26 Ohio 7:51 By age 90, and Medicare 8:46 Firstfruits: the QCD comes out first 9:35 How to do it 12:31 The fine print 13:52 Not 70½ yet 14:28 After you're gone 15:06 Homework WATCH NEXT ▶ Stop Converting Your IRA to Roth (If You Plan to Give) | QCDs Explained —    • Stop Converting Your IRA to Roth (If You P...   ▶ Rendering to Caesar What He Never Asked For (The Roth Conversion Mistake) —    • Rendering to Caesar What He Never Asked Fo...   ▶ Your IRA Is a Tax Time Bomb Unless You Give It Away —    • Your IRA Is a Tax Time Bomb Unless You Giv...   ▶ Stop Planning Roth Conversions Around Medicare (If You Give) —    • Retiring at 65 With $3 Million? The Medica...   Got a money question or worry? The answer is probably GivMoar. Jason Demland, CFP®, EA, CKA® · Demland Wealth LLC · demlandwealth.com/givmoar Scripture quotations are from the ESV® Bible (The Holy Bible, English Standard Version®), © 2001 by Crossway, a publishing ministry of Good News Publishers. Used by permission. All rights reserved. Hypothetical example for educational purposes only. Not tax, legal, or investment advice. Demland Wealth LLC is a state-registered investment advisor in Ohio and Indiana. Consult your own tax professional before acting on anything in this video. #QCD #RMD #QualifiedCharitableDistribution #ChristianRetirement #GivMoar