The current tax code is set to expire in 2026. The article shows what has happened with tax rates since 2016 and what is scheduled to happen going forward until 2030. There are some notable changes beginning in 2026.

Tax, Financial Planning, Charitable GiftingErin Campbell, CPA/PFS, CFP®July 18, 2024financial planning, Personal Finance, distribution planning, Roth IRA, Roth Conversion, tax planning, income tax, Charitable Gifting, Qualified Charitable Distributions

The Rules are Changing (Again!) for Required Minimum Distributions

The SECURE Act 2.0 altered the onset of Required Minimum Distributions (RMDs) from age 72 to age 73. However, the law made no change to the Qualified Charitable Distribution (QCD) rules. So, while a RMD is not required until age 73, a taxpayer over age 70 ½ is allowed to distribute directly from their IRA to their favorite charity and avoid taxation.

Eldercare, Charitable Gifting, Financial Planning, Retiree, Retirement Planning, TaxErin Campbell, CPA/PFS, CFP®January 30, 2023retirement distributions, distribution planning, Retirement Planning, tax planning, Charitable Gifting, income tax, required minimum distributions, Qualified Charitable Distributions

Charitable Contributions from IRAs

If you are over age 70.5, you are eligible to make a qualified charitable distribution (QCD). By doing so, you can benefit your favorite charities, while excluding up to $100,000 annually from your gross income.