IRA-RMD SPECIAL TAX-SAVING GIVING OPPORTUNITY
If you are age 70½ or older and have an Individual Retirement Account (IRA), you may be eligible to support your church or another 501(c)(3) nonprofit through a Qualified Charitable Distribution (QCD), a simple and tax-efficient way to give.
A QCD allows you to direct funds straight from your IRA to the charity. When done correctly, this gift can satisfy part or all of your Required Minimum Distribution (RMD) without being counted as taxable income.
Important: The gift must be made directly from the IRA to the charity. If you withdraw the funds first and then write a check, the tax benefit is lost. Always consult your financial advisor or tax professional before making a decision.
Example:
•Required Minimum Distribution (RMD): $20,000
•Church Gift: $5,000
Without a QCD: You pay taxes on the full $20,000, then write a $5,000 check to the church.
With a QCD: $5,000 goes directly from your IRA to the church (not taxed). You withdraw the remaining $15,000 and pay taxes only on that amount.
Estimated Tax Savings:
•Federal: ~$1,200 (24% of $5,000)
•Oklahoma: ~$215 (4.75% of $5,000)
•Total Savings: ~$1,415 (approximately 28.75%)*
*After the $10,000 state exclusion has been used.
Thoughtful planning can make your generosity go even further. Always speak to your tax preparer, financial advisor or accountant to confirm appropriate tax advice for your particular situation.
If you are age 70½ or older and have an Individual Retirement Account (IRA), you may be eligible to support your church or another 501(c)(3) nonprofit through a Qualified Charitable Distribution (QCD), a simple and tax-efficient way to give.
A QCD allows you to direct funds straight from your IRA to the charity. When done correctly, this gift can satisfy part or all of your Required Minimum Distribution (RMD) without being counted as taxable income.
Important: The gift must be made directly from the IRA to the charity. If you withdraw the funds first and then write a check, the tax benefit is lost. Always consult your financial advisor or tax professional before making a decision.
Example:
•Required Minimum Distribution (RMD): $20,000
•Church Gift: $5,000
Without a QCD: You pay taxes on the full $20,000, then write a $5,000 check to the church.
With a QCD: $5,000 goes directly from your IRA to the church (not taxed). You withdraw the remaining $15,000 and pay taxes only on that amount.
Estimated Tax Savings:
•Federal: ~$1,200 (24% of $5,000)
•Oklahoma: ~$215 (4.75% of $5,000)
•Total Savings: ~$1,415 (approximately 28.75%)*
*After the $10,000 state exclusion has been used.
Thoughtful planning can make your generosity go even further. Always speak to your tax preparer, financial advisor or accountant to confirm appropriate tax advice for your particular situation.
QCD 501c3 IRA SPECIAL TAX-SAVING GIVING OPPORTUNITY
If you are age 70½ or older and have an Individual Retirement Account (IRA), you may be eligible to support your church or another 501(c)(3) nonprofit through a Qualified Charitable Distribution (QCD), a simple and tax-efficient way to give.
A QCD allows you to direct funds straight from your IRA to the charity. When done correctly, this gift is without being counted as taxable income.
Important: The gift must be made directly from the IRA to the charity. If you withdraw the funds first and then write a check, the tax benefit is lost. Always consult your financial advisor or tax professional before making a decision.
Example:
•Church Gift: $5,000 from your IRA
With a QCD: $5,000 goes directly from your IRA to the church (not taxed).
Estimated Tax Savings:
•Federal: ~$1,200 (24% of $5,000)
•Oklahoma: ~$215 (4.75% of $5,000)
•Total Savings: ~$1,415 (approximately 28.75%)*
*After the $10,000 state exclusion has been used.
Thoughtful planning can make your generosity go even further. Always speak to your tax preparer, financial advisor or accountant to confirm appropriate tax advice for your particular situation.
If you are age 70½ or older and have an Individual Retirement Account (IRA), you may be eligible to support your church or another 501(c)(3) nonprofit through a Qualified Charitable Distribution (QCD), a simple and tax-efficient way to give.
A QCD allows you to direct funds straight from your IRA to the charity. When done correctly, this gift is without being counted as taxable income.
Important: The gift must be made directly from the IRA to the charity. If you withdraw the funds first and then write a check, the tax benefit is lost. Always consult your financial advisor or tax professional before making a decision.
Example:
•Church Gift: $5,000 from your IRA
With a QCD: $5,000 goes directly from your IRA to the church (not taxed).
Estimated Tax Savings:
•Federal: ~$1,200 (24% of $5,000)
•Oklahoma: ~$215 (4.75% of $5,000)
•Total Savings: ~$1,415 (approximately 28.75%)*
*After the $10,000 state exclusion has been used.
Thoughtful planning can make your generosity go even further. Always speak to your tax preparer, financial advisor or accountant to confirm appropriate tax advice for your particular situation.
B/IRA SPECIAL TAX-SAVING GIVING OPPORTUNITY
If you have a Beneficiary Individual Retirement Account (B/IRA), you may be eligible to support your church or another 501(c)(3) nonprofit through a Qualified Charitable Distribution (QCD), a simple and tax-efficient way to give.
A QCD allows you to direct funds straight from your B/IRA to the charity. When done correctly, this gift is without being counted as taxable income.
Important: The gift must be made directly from the B/IRA to the charity. If you withdraw the funds first and then write a check, the tax benefit is lost. Always consult your financial advisor or tax professional before making a decision.
Example:
•Church Gift: $5,000 from your B/IRA
With a QCD: $5,000 goes directly from your B/IRA to the church (not taxed).
Estimated Tax Savings:
•Federal: ~$1,200 (24% of $5,000)
•Oklahoma: ~$215 (4.75% of $5,000)
•Total Savings: ~$1,415 (approximately 28.75%)*
*After the $10,000 state exclusion has been used.
Thoughtful planning can make your generosity go even further. Always speak to your tax preparer, financial advisor or accountant to confirm appropriate tax advice for your particular situation.
If you have a Beneficiary Individual Retirement Account (B/IRA), you may be eligible to support your church or another 501(c)(3) nonprofit through a Qualified Charitable Distribution (QCD), a simple and tax-efficient way to give.
A QCD allows you to direct funds straight from your B/IRA to the charity. When done correctly, this gift is without being counted as taxable income.
Important: The gift must be made directly from the B/IRA to the charity. If you withdraw the funds first and then write a check, the tax benefit is lost. Always consult your financial advisor or tax professional before making a decision.
Example:
•Church Gift: $5,000 from your B/IRA
With a QCD: $5,000 goes directly from your B/IRA to the church (not taxed).
Estimated Tax Savings:
•Federal: ~$1,200 (24% of $5,000)
•Oklahoma: ~$215 (4.75% of $5,000)
•Total Savings: ~$1,415 (approximately 28.75%)*
*After the $10,000 state exclusion has been used.
Thoughtful planning can make your generosity go even further. Always speak to your tax preparer, financial advisor or accountant to confirm appropriate tax advice for your particular situation.