Federal law requires everyone age 70 ½ and older to take a Required Minimum Distribution annually from their IRA account, increasing their taxable income. But, if the distribution is made directly to St. John the Divine, the entire withdrawal distribution amount given to the church is excluded from taxable income. This transaction is known as a Qualified Charitable Distribution. The direct transfer to St. John the Divine can be accomplished simply and with great tax savings to you by contacting your IRA account administrator. As always, please contact your financial advisor regarding your individual situation
Contact Louise Symmes, director of generosity at email@example.com or 713.354.2218 with questions or for more information!