Taxes and giving
January 9, 2020
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M As your tax documents arrive, its a good time to think ahead about your giving plans for 2020. The time for charitable giving for 2019 is past. But its never too early to plan ahead. I’m in that season of life where I’m required to take distributions from my IRA. Did you know you can gift that directly to your favorite charity and not pay taxes on that amount?
V That means more money to your charity because there’s no IRS hair cut in other words, taxes taken out. Many people are loving this way to give. You can give this way with your RMD, required minimum distribution with up to $100,000.
A wise steward idea for this year.