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RMDs and Minimizing Taxes Through Charitable Giving

RMDs and Minimizing Taxes Through Charitable Giving

October 5, 2017 Charitable Giving, Fox 4 News, News, RMD, Tax Planning, Video

Tax Planning Tip:

Required Minimum Distributions (RMD) are mandatory IRA Distributions starting at age 70 1/2.  The IRS enforces this rule with a hefty 50% penalty for non-compliance!

One option to consider to minimize your tax obligation is to have your RMD paid straight to a registered charity.  Of course you’ll want to verify that your intended recipient is, in fact, properly registered with the IRS via one of these sites:

  • Charity Navigator
  • Charity Watch

 

Waterstone Tax Service LLC is a full-service tax preparation provider.  Contact us to schedule a consultation.

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James Gallagher developed and refined a process to bring engineering principals to the retirement space. We use this process to Design, Build and Test integrated financial plans that structure income, optimize taxes, and assure effective wealth transfer. We continually monitor the plan and the investments making real-time adjustments as various life events unfold.
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Advisory services offered through J.W. Cole Advisors, Inc.  J.W. Cole Advisors, Inc. and Waterstone Financial are unaffiliated entities.  Advisors must be properly registered in the state where you live in order to conduct securities related business with you. A response to your request for information might be delayed in order to assure our compliance with this regulation. No information provided on this site is intended as a solicitation to buy or sell any security. The investments and services mentioned may not be available in every state. No security will be offered or sold to any person, in any state in which such offer, solicitation, purchase, or sale would be unlawful under securities laws of such jurisdictions.  Check the background of your financial professional on FINRA’s BrokerCheck

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  • Home
  • Our Services
    • Retirement Income Planning
    • The Fiscal Cliff of Retirement
    • Social Security Optimization
    • Tax Preparation and Planning
    • Estate and Asset Protection
    • Wealth Management
  • TV Appearances
  • Team
  • Contact Us
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