Make a Tax-Free Gift to WMCHealth Through Your IRA

Did you know that you can make a charitable donation through your Individual Retirement Account?

If you are 70 or over, you can contribute up to $100,000 without having to pay income taxes on the money.  You can make a current or estate gift through your IRA. It’s called an IRA Charitable Rollover or a “Qualified Charitable Distribution (QCD).”

Here are some of the benefits of a QCD:

• 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.
• 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.

Ask your Financial Planner about the benefits of charitable donation through your Individual Retirement Account.  Learn more about Qualified Charitable Distribution here.