Editor's note

I've handpicked articles and stories that resonate with both my clients and myself, with the goal of providing you with valuable, practical insights that you may find both informative and useful.

Monday, January 29, 2024

SECURE 2.0 Makes It Easier to Give and Receive

 SECURE 2.0 Act 

They say it’s better to give than to receive, but doing both while reducing your income tax liability may be appealing. The SECURE 2.0 Act, included in the federal spending bill passed in late 2022, created two new giving opportunities that could do just that. 

The new provision modifies the rules for qualified charitable distributions (QCDs), which allow a taxpayer who is age 70½ or older to contribute up to $100,000 annually — indexed for inflation — from a traditional IRA to a qualified public charity. The limit is $105,000 in 2024. While the contribution is not tax-deductible, the distribution — which would normally be subject to ordinary income tax — is not taxable. And the QCD can satisfy all or part of your required minimum distribution, which might otherwise increase your taxable income.

(Read more)

Saturday, January 27, 2024

January 2024 Newsletter Topics

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