The IRA charitable distribution is a great way to help your bottom line while helping Brookwood in Georgetown. If you have reached the age where you need to make a required minimum distribution (RMD) from your traditional IRAs, you can reduce your taxes by contributing all or a portion of that distribution directly to BiG. Normally, a distribution from a traditional IRA incurs taxes since the account holder did not pay taxes on the money when they put it into the IRA. But account holders who are required to make an RMD and who make a contribution directly from a traditional IRA to BiG can donate up to $100,000 without it being considered a taxable distribution. The deduction effectively lowers the donor's adjusted gross income (AGI).
Contact Jackie Merrick at 512-762-7564 or firstname.lastname@example.org if you would like to discuss making a donation from an IRA. Also consult your tax or investment advisor.