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Support Ministry Through Your IRA
If you are 701/2 now and have an Individual Retirement Account (IRA), you are required to withdraw a certain amount each year — this is known as your required minimum distribution (RMD). Many people find that they don’t need the extra income, but they’re required to take it. With the recent tax code changes, not everyone can itemize deductions, which means the RMD will be taxed as income. Making a gift to church directly from your IRA in the form of a qualified charitable distribution (QCD) should allow you to save on taxes and do good with your gift!