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February 1, 2023

Notices and Information

Qualified Charitable Distribution

Have you heard of the Qualified Charitable Distribution (QCD)?

The tax laws are confusing to most of us, but there is one rule that should definitely be understood by anyone age 70 ½ or older. The QCD rule allows an individual to make donations directly from their IRA accounts to the church, without having to pay tax on the distribution. A donation done this way can save a considerable amount of federal tax, and this is especially true under the new tax laws. To learn more please see Mike Quinn with any questions.