In the spirit of Thanksgiving, some people have taken to making lists: not the shopping and cooking to-do lists, but a reflective accounting of our many blessings, large and small. In practicing this gratitude journal, studies show we become more mindful and appreciative.

As we center our thoughts on gifts we have received, the proceeding step is to consider how we can share our gifts with others. Asset Advisors helps our clients augment their generosity by using Qualified Charitable Donations (QCDs).

QCDs are made directly to an eligible charity from an IRA but don’t count toward the account owner’s adjusted gross or taxable income. By using these pre-tax funds, more money goes to the worthy organizations who need it. In 2022, our clients donated over $1.2 million to charity in this way.

Some of our clients have annual required minimum distributions (RMDs) from their retirement accounts and choose to delegate a portion- or all- of their RMDs as QCDs. Others find joy (and tax benefits) in giving QCDs as early as age 70.5, before RMDs begin at 73.

If you would like to discuss how to maximize your charitable giving, we would be grateful for the opportunity to speak with you at 706-650-9900.