Tag Archive: donor advised fund

How to Make the Most of Your Charitable Giving This December

December 19, 2016 4:50 pm Published by Ann K. Molloy

With the end of the calendar year fast approaching, now is the time to make smart decisions about your charitable donations. Here are two ways to help your favorite charity while reducing your taxes:

Make a Qualified Charitable Distribution from Your IRA

If you are 70 ½ years or older, your IRA custodian or trustee can distribute up to $100,000 from your traditional or Roth IRA to the charity or charities of your choice. The funds you’re contributing cannot touch your hands—they must move directly from the IRA custodian or trustee to the charity. And the charity must be a public charity (i.e., a charity described in IRC §170(b)(1)(A)). A private foundation or a donor-advised fund won’t ...