Help animals with a tax-smart gift from your IRA
The IRA charitable distribution is a great way to help your bottom line while helping animals.
Once you have turned 70 ½, you can make a donation to a qualified charity like World Animal Protection from your IRA. In many cases, these gifts are tax-free, regardless of whether or not you itemize deductions on your tax return. If you are 73 or older (or were subject to Required Minimum Distributions (RMDs) before), these gifts can even count towards fulfilling your RMD for the calendar year.
Making a charitable distribution from your IRA directly to World Animal Protection helps you avoid that increase in taxable income and protect animals.
Our free IRA-giving tool walks you through the process of making this gift.
If you have turned 70 ½ and will be taking $1,000 out of your IRA this year, you might pay an additional $350 in income taxes (if your income tax bracket is 35%), leaving you with about $650 in total.
Instead, you can direct the entire distribution to World Animal Protection, and the full $1,000 will go directly to help protect animals.
This distribution will not affect your taxes.
You can contact us with this information, or any additional questions, at:
Phone: (646) 783-2200
It’s always a good idea to consult a financial advisor to understand your specific tax liability before donating to charity