Redding CA Bookkeeping and Tax Service

Charitable Donations – Did You Know?

If you are considering charitable donations, you may be able to donate to a Donor-Advised Fund (DAF) every two or three years instead of every year. This may qualify you to receive tax benefits now, allow the amount to grow tax-free, and the decision on which qualified charity to fund can be made later.

If you are 70.5 years or older, you may be able to make a qualified charitable distribution (QCD) from your IRA this year, and this may satisfy all or part of the required minimum distribution (RMD) each year.

The IRS has released a tool to make it easier to get information about qualified charitable organizations. The Exempt Organizations Select Check tool can be found at: https://www.irs.gov/charitie…/tax-exempt-organization-search.

Leave a Reply

Your email address will not be published. Required fields are marked *