Retirement and The Qualified Charitable Deduction

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
Retirement and The Qualified Charitable Deduction

Dr. Friday 0:00
Good day. I’m Dr. Friday. President of the Dr. Friday Tax and Financial firm. To get more info go to This is a one-minute moment.

Dr. Friday 0:12
And one of the greatest tax breaks as far as I’m concerned for individuals in retirement is the Qualified Charitable Deduction. The IRS is already basically mandating that you have to start taking money out of your IRAs, or your 403 B’s. And that’s one of the things that you’re sitting there going, “Well if I have to do this.” But also I have found a large number of my clients at least give money to charity, so why not give it dollar for dollar go to the custodian say, “Hey, I wanted this money to go here. This might have to go here.” You’re paying it out of your pocket anyway, why not take it out of your pocket tax-free versus paying the taxes and then give it to the charity? This would be a smart way to save taxes.

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