Make a Difference This Holiday Season Using Your Retirement Account

The season of giving is here, and you may have a powerful way to make an impact hidden in plain sight. Did you know that your retirement account can be used as a tool for charitable giving, while also being tax-smart?

1. Plan Ahead for Qualified Charitable Distributions (QCDs)

If you are 70.5 years or older, you can donate up to $108,000 per year directly from your Traditional IRA to a qualified charity like Caminar. This is called a Qualified Charitable Distribution (QCD) which applies only to IRAs, not 401(k)s. Why consider this option?

• No taxable income: Your gift is excluded from your Adjusted Gross Income (AGI) which can help keep you in a lower tax bracket.  

• Satisfies Required Minimum Distributions (RMDs): If you are 73 or older, your QCD can count toward your RMD.  

• It’s simple: The funds must be given directly from your IRA custodian account to the charity.  

2. Name Caminar as a Beneficiary

Another strategy is to name Caminar as a beneficiary of your IRA or 401(k).

• Charities pay no income tax on retirement account distributions.

• Allows you to leave other assets to loved ones, minimizing their tax burden.

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Giving through your retirement account helps Caminar provide compassionate care for individuals and families with complex behavioral health needs so they can thrive. Your holiday gift through your IRA can bring hope and healing to those who need it most.  

Ready to explore this giving option?

Contact your financial advisor and then feel free to reach out to us at development@caminar.org

Disclaimer: Please contact your financial advisor for advice related to your retirement planning. The information provided here is for general educational purposes only and should not be considered legal, tax or financial advice. Individual circumstances vary, so consult a qualified professional before making any decisions.

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