Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one minute moment.
You hear me talk about required minimum distributions. But the qualified charitable distribution is one of the best tax laws, especially for, well, only for individuals that are 70 and a half and older and have to take qualified required minimum distributions. So what happens is you can give money directly to your charity, and by doing it through your required minimum distribution, you send it directly to the charity, it becomes non-taxable to you. You don’t have to worry about itemizing that charitable deduction. This is a wonderful extra step that if you’re 70 and a half or older, and on required minimum distributions to put money in your pocket.
Do you need help? call me 615-367-0819
You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.