Dr. Friday 0:00
Good day. I’m Dr. Friday, President of Dr. Friday’s Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.
Dr. Friday 0:12
Qualified charitable deductions if you are 70 and a half or older and you are taking required minimum distributions, you are most likely going to qualify for this qualified charitable deduction is $1 for dollar deduction of your income. All you have to do is call the custodial of your 401 K or IRA where you’re taking your RMDs and say, “Hey, I want to give my church this much money.” Please write it out. It’s considered a charitable deduction at that point, will be reduced from your 1099 R, and this will put more money in your bank. It’s easy to give money for charities. It is a win-win, people. Look at qualified charitable deductions.
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