Are you 70 ½?
Do you have an IRA?
Do you want to help your church, school, and favorite charities and save money?
Then read my new article titled Tax Tips: Age 70 1/2 or Older? Make Your IRA Donate Directly to Charity
The Challenge:
Sure. Your IRA is a great way to save for retirement. But when you hit 70 ½, you’re going to have to start taking money out of your IRA every year and pay taxes on that income.
Uncle Sam calls this a Required Minimum Distribution.
Want details? Read the full article.
The Opportunity:
Do you want to donate money to your church, a school, or some qualified charity like the Red Cross or the American Cancer society?
Then take advantage of The Protecting Americans from Tax Hikes Act.
This little-known provision of the tax law lets a taxpayer, 70 ½ or older, make up to $100,000 in annual charitable contributions directly from their IRA.
This allows you to avoid creating income taxes and put a valuable charitable deduction in your pocket.
Want details? Read the full article.
The Strategy:
Actually, there are six strategies that work for charities and you. Don’t miss them!
For example, we’ll show you how to get a hefty double-dip benefit. And how to slash your Medicare premiums.
All six strategies are totally legal and can save you a lot of money.
Want details? Read the full article.