qualified charitable distributions Archives

Reminder to IRA Owners Age 70½ or Over: Qualified Charitable Distributions are Great Options for Making Tax-Free Gifts to Charity
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Reminder to IRA Owners Age 70½ or Over: Qualified Charitable Distributions are Great Options for Making Tax-Free Gifts to Charity

Charitable Organizations, IRS, Non Profits, Personal Taxes, Planning Strategies, Tax Deductions, Tax Tips, Taxes, Year End

Reminder to IRA Owners Age 70½ or Over: Qualified Charitable Distributions are Great Options for Making Tax-Free Gifts to Charity

This article was published by the IRS. The Internal Revenue Service is reminding IRA owners age 70½ or over of their option to transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end [...]

cozbycpa2022-12-07T12:37:59-05:00December 7th, 2022|Categories: Charitable Organizations, IRS, Non Profits, Personal Taxes, Planning Strategies, Tax Deductions, Tax Tips, Taxes, Year End|Tags: Cozby & Company, CPA Heather Cozby, how to set up a QCD, how to set up a qualified charitable distribution, Plymouth MA tax preparer, QCDs, qualified charitable distributions, using QCDs for charitable contributions|

How the CARES Act Changes Deducting Charitable Contributions
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How the CARES Act Changes Deducting Charitable Contributions

Charitable Organizations, Coronavirus, IRS, Personal Taxes, Planning Strategies, Tax Deductions, Tax Law Changes, Tax Tips, Taxes

How the CARES Act Changes Deducting Charitable Contributions

This article was published by the IRS. Whether taxpayers are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that's personally meaningful to them, their charitable donations may be tax deductible. These deductions basically reduce the amount of their taxable income. Here's how the CARES Act changes deducting charitable contributions made in 2020: Previously, charitable [...]