If you are 73 years old and required to take a RMD (required minimum distribution) from your IRA (Individual Retirement Plan) please consider the use of a Qualified Charitable Distribution (QCD) to contribute to your favorite qualified charities and at the same time reduce the tax you would have to pay on that distribution.  QCDs do not count as income on these tax-free donations up to a total of $100,000 a year. This amounts to a win-win for you and for the qualified charities.  Consider making QCD’s to St. Nicholas & St. William parish, the ADA, Catholic Charities, and other worthy qualified charitable organizations.  If you are 70 ½ you can still make a QCD from you IRA even though a RMD is not yet required until age 73. QCD Check request forms are available from your IRA account holder.
If you have questions concerning whether making a QCD is appropriate for you, we recommend you consult your financial consultant, broker, tax advisor, or attorney.