Avoid taxes by giving directly from your IRA
I wanted to keep making donations and reduce my taxes. I learned I could reduce my income and my taxes by transferring money directly from my IRA to charity.
I called my IRA custodian and requested a transfer of $10,000 directly from my IRA to Oakland Symphony. I avoided paying $2,400 in income taxes which allowed me to make a larger gift to Oakland Symphony.
I'm thrilled that a gift from my IRA reduces my income taxes this year and helps my favorite charity.
Is giving from your IRA right for you?
Have you calculated what your IRA required minimum distribution (RMD) will be this year and how it will affect your taxes? If you have questions about how you can benefit by making a gift from your IRA, please contact us.