IRA distributions
December 17, 2019
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M If you are a ‘vintage’ person like me, in this season of giving we remember that we must take a required minimum distribution from our IRA. First, thank God that we have one.
V Next, think of how to maximize giving for Kingdom purposes. If you take cash out, you must pay taxes on that amount. Uncle Sam is happy. You can give stocks, bonds, or mutual funds directly to your favorite charity including your church. They sell those and there is no tax taken.
M Imagine if you gift $1,000.00 of a stock directly, the charity receives that amount. If you sell it, possibly $250.00 will go to taxes. Your charity receives $750.00. Wisely lets build the Kingdom.