Does it Make Sense to Make a Charitable Contribution from my IRA?

If you are 70 ½ or older, you are eligible to make a Qualified Charitable Distribution (QCD) from your IRA directly to a qualified charity.  By electing to make a QCD, the distribution of these funds will be reported as a distribution and will count toward the required minimum distribution from the IRA, but will not be included in taxable income.

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Bunching of Itemized Deductions Under the New Tax Legislation

Under the new Tax Cuts & Jobs Act (TCJA), the standard deduction available to taxpayers has increased to $24,000 for those who file as Married filing Jointly, $18,000 for Head of Household, and $12,000 for Single or Married Filing Separately. Due to this increase, it is estimated that the number of taxpayers who itemize their deductions will fall from around 30% to less than 10%.  

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Walking the Talk - Tom Peters

While at the recent ScalingUp Summit in New Orleans, I rushed from my room looking forward to the first speaker.  Hopped  on the elevator, and had forgotten my badge.  So, back up the elevator to my room to grab the badge.  Exited on the 25th floor, as a gentleman was walking to the elevator.  Ran to the room, grabbed the badge, and back at the elevator.  The gentleman was still there... commiserating about how slow the elevators were. Hold that thought.

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