Prescott LIVING Magazine
No Result
View All Result
Prescott LIVING Magazine - Click for Current Issue
  • Inside
    • Voices
    • Special Sections
      • 40 Under 40
      • Annual Photo Contest
        • People’s Choice Photo Winners
      • Best of Greater Prescott
      • Everyone Can Be a Hero
      • Holiday
      • Medical, Health & Wellness
      • Men of Vision
      • New Year, New You
      • Relocation
      • Wealth Management
      • Weddings & Events
      • Women in Leadership
    • Up Front
      • City Speak
    • BIZ
    • YOU
      • Out & About
      • Beauty & Style
      • Health, Happiness & Education
      • Education
      • Pets
      • Home
        • Home & Garden
    • FUN
      • Arts & Culture
      • Outdoor Adventure
      • Restaurants
        • Pizza
      • Travel & Tourism
    • The ROX Interview
    • Prescott Pioneer Local News
    • Q & A
  • Current Issue
  • Community Calendar
  • Past Issues
  • Subscribe
    • eNewsletter & Digital Edition Subscription
  • Inside
    • Voices
    • Special Sections
      • 40 Under 40
      • Annual Photo Contest
        • People’s Choice Photo Winners
      • Best of Greater Prescott
      • Everyone Can Be a Hero
      • Holiday
      • Medical, Health & Wellness
      • Men of Vision
      • New Year, New You
      • Relocation
      • Wealth Management
      • Weddings & Events
      • Women in Leadership
    • Up Front
      • City Speak
    • BIZ
    • YOU
      • Out & About
      • Beauty & Style
      • Health, Happiness & Education
      • Education
      • Pets
      • Home
        • Home & Garden
    • FUN
      • Arts & Culture
      • Outdoor Adventure
      • Restaurants
        • Pizza
      • Travel & Tourism
    • The ROX Interview
    • Prescott Pioneer Local News
    • Q & A
  • Current Issue
  • Community Calendar
  • Past Issues
  • Subscribe
    • eNewsletter & Digital Edition Subscription
No Result
View All Result
Prescott LIVING Magazine
Prescott LIVING Magazine - Click for Current Issue
Home Special Sections Wealth Management

MAKING CHARITABLE GIFTS USING YOUR IRA CAN BE A BIG TAX ADVANTAGE

December 4, 2018
325
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter

by The team of independent financial advisors at Stratos Wealth Partners

Wondering what to do with your annual IRA required minimum distribution?
If you can live without the income (and taxes) that a large minimum distribution (RMD) generates, think about taking a qualified charitable distribution (QCD) from your traditional individual retirement account (IRA) to satisfy your required minimum distribution requirement.

If you are a traditional IRA owner aged 70½ or older, you can gift up to $100,000 a year to a qualified charity this way. The donation must be a direct transfer of assets — it cannot pass through your hands.

What are the tax advantages of a QCD?
You can exclude the amount of the gift from your adjusted gross income for the year in which you make the donation. Depending on your situation, this may also help you avoid taxation of your Social Security benefits or the Medicare surtax. Since a QCD is not a deduction, even taxpayers who don’t itemize can benefit from one.1

Does the income from your annual IRA required minimum distribution risk putting you into a higher tax bracket? Imagine being able to lower your adjusted gross income by up to $100,000 a year while also helping a charity. By the way, that $100,000 annual QCD limit is an individual limit. A married couple can donate up to $200,000 in a year through QCDs while meeting some or all of their required minimum distribution requirements.

You may want to plan a QCD well before the Dec. 31 deadline.
Call or email us to explore this possibility now — it may provide you with a substantial federal tax break.

The team of independent financial advisors at Stratos Wealth Partners can be reached at:
Stratos Wealth Partners, 100 E. Sheldon St., Suite 105, Prescott, AZ 86301; prescottwealthmanagment.com; Michael Woods, 928-460-5508; Stephanie Sterling, 928-460-5526; Kevin Pitts, 928-460-5511; Rhonda Chavez Payne, 928-460-5509.

Previous Post

THE NEW YEAR IS THE PERFECT TIME TO MAKE AN ESTATE PLAN

Next Post

ARE YOUR RETIREMENT PLANS IN GOOD HEALTH?

Next Post

ARE YOUR RETIREMENT PLANS IN GOOD HEALTH?

Join our Newsletter

Prescott LIVING eNewsletter Subscription

No Result
View All Result
Cover for Prescott Living Magazine
11,558
Prescott Living Magazine

Prescott Living Magazine

Come & enjoy the local scene in Prescott Arizona!

Prescott Living Magazine

2 days ago

Prescott Living Magazine
This article about the North Storm Ranch Open Space is by Joe Baynes, Director of Recreation Services at the City of Prescott. ... See MoreSee Less

North Storm Ranch Open Space Available to Public Spring ’23

prescottlivingmag.com

Photo by Chris Hosking, Trails/Park Land Planner, City of Prescott by Joe Baynes, Director of Recreation Services, City of Prescott
View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

Prescott Living Magazine

2 days ago

Prescott Living Magazine
Looking for a special gift for Valentine's Day? There will be a Valentine Craft Fair at Homestead Talking Glass in Prescott Valley on Saturday, Feb. 11 from 10-3. Pick up a free copy of the February issue of Prescott NOW to see what's happening this month in the Greater Prescott area! Or visit the website for the online calendar and digital edition of the magazine.www.prescott-now.com/eventsVALENTINE CRAFT FAIR — FREE TO THE PUBLICCreative crafts, floral arrangements, jewelry, home decor, clothes, chocolates, cards and more! Gifts for that “hard to buy” loved one. There will be 30+ Vendors. All indoors. Hourly $1 raffle drawings, with raffle proceeds going to Queen Esther's Closet.Saturday, February 11 from 10:00 AM – 3:00 PM at 3131 N. Main St. in Prescott Valley. Hosted By Homestead Talking Glass. ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

It’s About LOCAL – ADVERTISE WITH US

© 2022 ROX Media •  Privacy Policy
info@roxco.com • 130 N. Granite St. • Prescott, AZ 86301 • 928.350.8006
CORPORATE OFFICE: 1919 N. Trekell Rd.,  Suite C •  Casa Grande, AZ 85122

No Result
View All Result
  • Inside
    • Voices
    • Special Sections
      • 40 Under 40
      • Annual Photo Contest
      • Best of Greater Prescott
      • Everyone Can Be a Hero
      • Holiday
      • Medical, Health & Wellness
      • Men of Vision
      • New Year, New You
      • Relocation
      • Wealth Management
      • Weddings & Events
      • Women in Leadership
    • Up Front
      • City Speak
    • BIZ
    • YOU
      • Out & About
      • Beauty & Style
      • Health, Happiness & Education
      • Education
      • Pets
      • Home
    • FUN
      • Arts & Culture
      • Outdoor Adventure
      • Restaurants
      • Travel & Tourism
    • The ROX Interview
    • Prescott Pioneer Local News
    • Q & A
  • Current Issue
  • Community Calendar
  • Past Issues
  • Subscribe
    • eNewsletter & Digital Edition Subscription

© 2022 ROX Media