RMDs and Qualified Charitable Distributions

Required Minimum Distributions (RMDs) from your hard-earned retirement accounts can be frustrating if they provide more income than you need and increase your tax liability. But if you are age 70 ½ or older, a Qualified Charitable Distribution (QCD) made to St. Dominic’s with a portion of your RMD can become a generous gift to the parish and make good financial sense for you too. Plus, you can designate how your gift is to be used. Your financial advisor or broker can help you arrange it, and your tax consultant can assist with the accounting. For more information, see this informative IRS Tax Tip on their official website
https://www.irs.gov/newsroom/seniors-can-reduce-their-tax-burden-by-donating-to-charity-through-their-ira