HOW TO's for YOUR PHILANTHROPY And GIVING for GOD

If you receive a QCD (qualified charitable distribution) from an IRA account, you can donate your Required Minimum Distribution (RMD) and it will be considered “Tax Deferred.”  Here’s how.

Most people who make philanthropic gifts to a ministry or charity look for ways to maximize their gift, while minimizing their tax liability. Generally, the key consideration is how much the gift may be and whether the gift allows them to exceed the IRS standard tax deduction to reap the greatest benefit for both the donor and the charity.

Most philanthropic donors give far above the standard deduction, and therefore reap the benefits of a nice tax deduction. 

However, if your donations and other deductibles do not exceed the IRS standard deduction, there is another way to benefit both parties IF you receive a QCD (qualified charitable distribution) from an IRA account. With such an account you can transfer the distribution (NOT cash out & transfer cash but transfer the distribution itself) to a qualified charitable organization and list this transfer as “Tax Deferred.” 

Tax-Deferral simply decreases your AGI (adjusted gross income), regardless of your tax-deductible considerations, thereby reducing your overall tax liability.

 There are some caveats to consider:

·      You must be at least 70.5 years old.

·      You must donate to a qualified charitable organization (like A.C.T. Intl).

·      You can transfer up to a maximum of $100,000 per year.

·      This gift must be from an IRA account (NOT from an employee pension, other type of retirement account, or an inherited IRA account).

While this type of gift is limited by age, nevertheless, speak with your tax consultant about this and other programs that would be of the greatest benefit to you and the organization you wish to honor.

A.C.T. Intl is in a period of unprecedented growth. Our 500+ ministry departments and 700+ arts and other innovative ministry staff around the world are making a tremendous impact for the Kingdom of Christ. Our Global Mission Fund is also making significant strides toward outreach through our online seminars and seminary-level courses, our mentorship and coaching programs, and our ability to equip these Kingdom servants to declare the Gospel of Jesus more effectively and efficiently outside the bounds of the traditional church. 

It is only through generous hearts of giving like yours that our ministry can be sustained for long-term growth. 70% of charitable giving is done through non-cash methods, and we want to extend this vehicle of giving to you for your prayerful consideration.

If this article is helpful to you, please drop a note to David McCall, Generosity Dept., and let him know. david@actinternational.org.