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RMD

Things to Consider for Your “To Do by December 31st” List

By Carolyn T. Walder

Counting on a Change in the QCD Provision?

By Diana Batchelor

Your first question may be: What is a QCD? A Qualified Charitable Donation allows one to donate a part of his or her required minimum distribution (RMD) from their IRA directly to a qualified charity. Remember, the RMD is the amount you must distribute from your IRA at age 70½. The maximum allowable amount of a QCD is the total of your RMD or $100,000, whichever is less. If you are not required to take an RMD, then you cannot take advantage of a QCD. The QCD option is great for clients who are charitably inclined, as the QCD portion of their RMD will not be considered a taxable distribution. Previously, the QCD provision was approved by Congress annually. This past summer, the House Ways and Means Committee has passed a proposal (H.R. 416) to amend the tax code to make charitable contributions from IRAs tax-deductible, not subject to annual approval. The Permanent IRA Charitable Contribution Act of 2014 is currently on the calendar to be considered by the House for approval.  

Don't Miss the RMD Deadline!

By Diana Batchelor

The end of the year is approaching, and with that are many deadlines that need to be met for tax purposes. One of those deadlines is for those with Individual Retirement Accounts (IRAs) or participate in a qualified plan is to make an RMD, Required Minimum Distributions, by December 31st.  The RMD that Traditional, SEP, and Simple IRA owners and qualified plan participants must generally begin withdrawing is the minimum amount that a

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