Would You Rather Give to Charity or the IRS?
On this week's episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Mike Rudow to discuss charitable giving strategies to ensure you are optimizing your donations.
Here are some key takeaways from their conversation:
QCDs (Qualified Charitable Distributions) allow individuals over 73 to send required minimum distribution amounts directly from their IRA to charities, avoiding taxable income.
CRTs (Charitable Remainder Trusts) provide a way to donate assets, reduce income taxes, avoid capital gains, generate a beneficiary income stream, and benefit charities at the…
The skinny
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