A qualified charitable distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying required minimum distributions (RMDs) for taxpayers over age 70 1/2. While QCDs offer tax benefits, they can also result in additional taxes in some situations. This article provides three examples to help illustrate when qualified charitable distribution might be preferable to receiving an RMD and donating a like amount to charity.
This article reviews some thresholds and limits for 2021, such as the standard deduction, Social Security benefits, adjustments for retirement accounts, gift taxes, and more.
While news about the pandemic and all the ways it is impacting us dominate our daily lives, those who give attention to the future may be able to find some attractive wealth transfer opportunities.
The Department of Labor issued a final rule on May 21, 2020 that establishes a new voluntary safe harbor for retirement plan administrators who want to use electronic media as a default to furnish covered documents to covered individuals.
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The COVID-19 pandemic presents many businesses a unique opportunity to restart in a stronger position than they were in prior to the pandemic.