As the calendar turns to December, many of us will think more intentionally about ways that we can help others. This might include donating financial resources to a cause that is meaningful to you and your family. Making a Qualified Charitable Distribution from your IRA or using a Donor Advised Fund for charitable giving are two ways that could help you increase the amount you can give, save on taxes, or both.
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA, payable to a qualified charity.
A Donor Advised Fund (DAF) is a giving vehicle established at a public charity that allows donors to make charitable contributions and recommend grants from the fund over time.
Do you have more questions about charitable giving? We can help you explore smart ways to give. Contact us.
Rob Kania is Principal and Co-Founder of Laurentide Advisory