Did you know you are able to roll over your required minimum distribution from your IRA to Second Harvest tax-free? This is available to people age 70 1/2 or older and done through your IRA.
New tax laws keeps this in place but doubles the standard deduction. The Qualified Standard Distribution (QDC) can effectively expand the increased standard deduction amounts and result in big tax savings.
Donors who need to satisfy their annual required minimum distribution but do not need to use the income are often drawn to Qualified Charitable Distributions (QDC). Making a donation to Second Harvest is an easy way to fulfill the requirement without paying taxes and make a donation to help families in need in our community.
To find out if you are qualified to take advantage of this tax strategy please contact your financial advisor.