Required Minimum Distribution
Are you approaching – or have already reached – “that age”?
The age of taking RMD’s, that is.
Depending upon a person’s year of birth, at the age of 72 or 73, it is required that annual distributions be made from personal retirement plans like IRA’s, 401K’s, and 403B’s. These are called Required Minimum Distributions (RMD’s).
If a person takes that distribution her/himself, it is considered ordinary income and is fully taxable. If, however, that distribution is made directly to a Qualified Charitable Organization, like RARE, it is tax-free – meaning no income taxes are required to be paid by you or by the charitable organization.
It’s a win – win! Thank you for considering donating all or part of your RMD to RARE.
Contact us for more information or for assistance to complete this donation.
Please consult your financial advisor to discuss your personal situation.