IRAs, Stocks, and Other Assets
As you think about donations to Bethany House this year, consider these popular tools that can help you maximize your generosity and tax savings:
- IRA Qualified Charitable Distribution (QCD): If you are 70 ½ years or older, you can donate $108,000 directly from your IRA annually without paying taxes on the withdrawal. This donation will count towards your Required Minimum Distribution and help you lower your taxable income.
- Stock: When you donate appreciated stock, you are entitled to a tax deduction for the fair market value of the stock (not what you purchased it for), and you will avoid paying capital gains taxes.
- Donor Advised Fund: You can make a contribution to a Donor Advised Fund, receive an immediate tax deduction, and decide in the future where to donate the funds.
If you have questions or want to learn more, please contact Daniel Flynn at 513-557-2214 or dflynn@bhsinc.org.
