Retired Fort Hays State University Professor, Dr. Ellen Veed, explains the tax benefits of a Charitable IRA Rollover and why she set up her own. Learn more about Charitable IRA Rollovers by contacting Darci Cain at the FHSU Foundation: foundation.fhsu.edu/about/#darci Musicbed SyncID: MB01EWMBROHUKNI...(read more)
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Dr. Ellen Veed, a financial planner and philanthropic advisor, recently discussed the benefits of charitable IRA rollovers in a recent webinar. A charitable IRA rollover is a way for taxpayers who are 70-1/2 or older to donate money from their individual retirement accounts (IRAs) to charity without having to pay income tax on the withdrawal. Dr. Veed explained that the charitable IRA rollover is a great way for those who are 70-1/2 or older to support their favorite charities while also reducing their taxable income. The rollover allows taxpayers to transfer up to $100,000 per year directly from their traditional or Roth IRA to a qualified charity of their choice. The money is not considered taxable income, so it does not count toward the taxpayer’s adjusted gross income or their taxable income. Dr. Veed also noted that the charitable IRA rollover can be beneficial for those who are looking to reduce their estate tax liability. Because the money is transferred directly to the charity, it is not included in the taxpayer’s estate. This can be a great way for taxpayers to reduce their estate tax liability while also supporting a charity of their choice. Dr. Veed also noted that the charitable IRA rollover is an easy way for taxpayers to make a significant impact on their favorite charities. She noted that the money can be used to support the charity’s mission, fund special projects, or even support a scholarship program. Finally, Dr. Veed noted that the charitable IRA rollover is a great way for taxpayers to support their favorite charities while also reducing their taxable income and estate tax liability. She urged taxpayers who are 70-1/2 or older to consider making a charitable IRA rollover to support their favorite charities. https://inflationprotection.org/dr-ellen-veed-explains-charitable-ira-rollovers/?feed_id=73914&_unique_id=63fb2eb8b7088 #Inflation #Retirement #GoldIRA #Wealth #Investing #charitableirarollover #RolloverIRA #charitableirarollover
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