New Incentives for Charitable Giving
Below are basic facts on a new law that allows Qualified Charitable Distributions from traditional IRAs to fund life income gifts. While there are limits on these gift opportunities, it is likely the start of something very big for charitable gift planning.
- A donor can make this once-in-a-lifetime gift election in only one tax year (hopefully with success and more lobbying, this may change).
- The aggregate limit of IRA funded life income gifts in 2024 is $53,000 (meaning, you can only create up to $53,000 in these gifts, in one tax year only).
- Since these count as QCDs (Qualified Charitable Distributions), any amount contributed towards one of these IRA funded life income gifts will also count towards your RMD (Required Minimum Distribution). The legislation allowing QCDs to fund life income gifts also increased the required beginning date (RBD) to age 73. But you can still make a QCD as early as age 70.5.
- No itemized charitable deduction. But the QCD is excluded from income "above the line," so think of this as the “tax-free” gift!
- Both regular QCD gifts and QCD gifts for split interest gifts will be adjusted for inflation each year.
Why is this so important?
Firstly, IRAs in particular are a huge financial asset class of the baby-boomers - in the $ Trillions - and already represent a phenomenal opportunity for legacy gifts.
Additionally, donors can now lock in guaranteed income for life at favorable rates while also making a significant legacy commitment.
As this law hopefully expands, life income gift programs in particular will become more and more important to our organization's future.
How to became a volounteer in Zambia state ?
These are the families that Give Kids The World Village welcomes to a place where time slows down. At the Village.
How to donate on our site using your form ?
Each year 27,000 children in the United States are diagnosed with a life-threatening illness. For these children.
In which state do you work most in Africa ?
Since 1986, more than 156,000 children and families from around the world have had their wishes fulfilled.
How can I give my clothes and other products ?
Central Florida that provides weeklong, cost-free vacations to children with life-threatening illnesses and their families.
What and where are the headquarters of your company ?
The Village is home to 166 villas. During their stay, families can enjoy rides on an enchanted carousel.
How can you get to work in your business ?
Swim in wheelchair accessible pools, play a life-sized version of CANDY LAND, putt at a dinosaur-themed.
How to became a volounteer in Zambia state ?
These are the families that Give Kids The World Village welcomes to a place where time slows down. At the Village.
How to donate on our site using your form ?
Each year 27,000 children in the United States are diagnosed with a life-threatening illness. For these children.
In which state do you work most in Africa ?
Since 1986, more than 156,000 children and families from around the world have had their wishes fulfilled.
How can I give my clothes and other products ?
Central Florida that provides weeklong, cost-free vacations to children with life-threatening illnesses and their families.
What and where are the headquarters of your company ?
The Village is home to 166 villas. During their stay, families can enjoy rides on an enchanted carousel.
How to became a volounteer in Zambia state ?
These are the families that Give Kids The World Village welcomes to a place where time slows down. At the Village.
How to donate on our site using your form ?
Each year 27,000 children in the United States are diagnosed with a life-threatening illness. For these children.
In which state do you work most in Africa ?
Since 1986, more than 156,000 children and families from around the world have had their wishes fulfilled.
How can I give my clothes and other products ?
Central Florida that provides weeklong, cost-free vacations to children with life-threatening illnesses and their families.
What and where are the headquarters of your company ?
The Village is home to 166 villas. During their stay, families can enjoy rides on an enchanted carousel.
How can you get to work in your business ?
Swim in wheelchair accessible pools, play a life-sized version of CANDY LAND, putt at a dinosaur-themed.
How to became a volounteer in Zambia state ?
These are the families that Give Kids The World Village welcomes to a place where time slows down. At the Village.
How to donate on our site using your form ?
Each year 27,000 children in the United States are diagnosed with a life-threatening illness. For these children.
In which state do you work most in Africa ?
Since 1986, more than 156,000 children and families from around the world have had their wishes fulfilled.
How can I give my clothes and other products ?
Central Florida that provides weeklong, cost-free vacations to children with life-threatening illnesses and their families.
What and where are the headquarters of your company ?
The Village is home to 166 villas. During their stay, families can enjoy rides on an enchanted carousel.
How to became a volounteer in Zambia state ?
These are the families that Give Kids The World Village welcomes to a place where time slows down. At the Village.
How to donate on our site using your form ?
Each year 27,000 children in the United States are diagnosed with a life-threatening illness. For these children.
In which state do you work most in Africa ?
Since 1986, more than 156,000 children and families from around the world have had their wishes fulfilled.
How can I give my clothes and other products ?
Central Florida that provides weeklong, cost-free vacations to children with life-threatening illnesses and their families.
What and where are the headquarters of your company ?
The Village is home to 166 villas. During their stay, families can enjoy rides on an enchanted carousel.
How can you get to work in your business ?
Swim in wheelchair accessible pools, play a life-sized version of CANDY LAND, putt at a dinosaur-themed.