A great way to give a gift to Elders Action Network in 2024
Did you know that your 2024 gift to Elders Action Network can also help satisfy a Required Minimum Distribution (RMD) for your tax deferred retirement accounts?
How do I turn my RMD into a donation to Elders Action Network?
One way to do this is by making a direct transfer of funds from your IRA custodian, a qualified charitable distribution (QCD) to Elders Action Network. The QCD can have significant income tax benefits to you. A QCD is pre-tax, meaning it does not appear in your taxable income, and therefore you don’t have to pay tax on that amount of the distribution.
An RMD, however, is taxable income. You can get this tax benefit even if you take the standard deduction. And finally, by reducing your taxable income, it could result in a lower tax bracket.
You’ll want to check with your financial advisor today to advise you on what strategy is right for you.
How do I make my donation to Elders Action Network?
U.S. Mail: Elders Action Network, 9012 Village View Dr., San Jose, CA 95135
Online: www.eldersaction.org
Elders Action Network (formerly, Conscious Elders Network) is a nonprofit, tax-exempt charitable organization under Section 501(c)(3) of the Internal Revenue Code. Donations are tax-deductible as allowed by law. Tax identification number: 46-4569152
For more information on how you can support the work of Elders Action Network, please contact Diana Shoemaker, Executive Director, dianas@eldersaction.org or Bill DeVincenzi, EAN Treasurer “billdevincenzi@me.com”.