Beginning at age 70.5, owners of an Individual Retirement Arrangement (IRA) must begin taking a Required Minimum Distribution (RMD’s) from their IRA’s each year. These distributions are taxable income. One way to avoid paying taxes on RMD’s is to rollover all or a portion of it to a charity as a qualifying charitable distribution (QCD). Up to $100,000 a year can be donated to your favorite charity as a QCD without paying income tax on it. Check with your IRA administrator for details.
IRA Charitable Beneficiary
One way to continue a legacy of environmental stewardship is to name Keta Legacy Foundation (formerly Mountaineers Foundation) as a beneficiary of all or a portion of your non Roth IRA. When making an IRA qualifying charitable distribution (QCD), neither you, your estate, nor KLF pay taxes on the QCD. It is a common practice for financial advisors to recommend naming a charity as the beneficiary of all or a portion of a non Roth IRA.