A Tax-Saving Way to Help PWC
If you are 70½ years old or older, you can take advantage of a simple way to benefit PWC and receive tax benefits in return. You can give any amount up to $100,000 per year from your IRA directly to a qualified charity such as PWC without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
Your gift will be put to use today, allowing you to see the difference your donation is making.
You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution.
Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.