#63: Tax Planning Strategy for IRA Holders: Skip the Government and Give from Your IRA Tax-Free

In this special episode of Blue Chip NOW!, Managing Partner Dan Seder, CFA®, CMT, CFP® and Associate Financial Advisor Hayden Kibbey talk about one of our favorite ways to bypass the government when pulling money from an IRA account. 

Qualified Charitable Distributions (QCD) are a tax-efficient way for people aged 70.5 and older to donate directly from their Individual Retirement Account (IRA) to charities. QCDs can take the place of Required Minimum Distributions (RMD) and don’t count as income, benefiting both the charity and the donor.  

• QCDs are direct donations from your IRA to the charity; the money bypasses the individual and therefore avoids income taxes, maximizing the donation