As we approach the end of the year, some of us are thinking about tax benefits and Qualifying Charitable Distribution (QCD).  If that is you, please read on.

  • A QCD allows you to donate up to $100,000 per year directly to a qualified charity from your IRA.
  • QCDs can enable you to give to charity and have some or all of your Required Minimum Distribution (RMD) be tax deductible.
  • QCDs require your contribution to go directly from your IRA to your chosen charitable organization.

If you are 70 1/2 or older, you can directly transfer up to $100,000 per year to a qualified charitable cause, hint...hint...Chabad in Medford.  The transfer counts toward your minimum required distribution and you do not have to pay federal income tax on it. 

If you'd like to learn more about the advantages for an IRA Qualifying Charitable Distribution, please let us know. Email Rabbi@ChabadMedford.org

Thank you,

Rabbi Yitzchok Kahan
 

P.S. I am not an accountant and this is not tax advice. It is merely making you aware of a win-win situation for Chabad and yourself.  Please consult your financial advisor for details.  (Or, you may contact Chabad's financial advisor, Carol Lupo of Wells Fargo Advisors, 856-988-2553/  carol.lupo@wellsfargoadvisors.com for more information.)