Finance & Enjoyment Blog

Did you know you can transfer up to $100,000 of your IRA to charity and receive several tax benefits? As long as you're older than seventy and a half at the end of the tax year, you can have your IRA custodian transfer the money directly to the charity and you won't be taxed on it. Plus, in addition to this, you can also deduct the amount as an itemized deduction, thereby reducing your tax liability. Please note this charitable contribution is limited to 2% of your adjusted gross income.

Posted in Your Financial House »

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