Give Me a Break!

Charitable Distributions Offer Powerful Tax Breaks

Are you 70½ or older and have an IRA, 401k, or other qualified retirement account? If so, there’s a little known IRS tax code change that allows Qualified Charitable Distributions (QCD’s) to be made directly from your retirement account to a qualifying 501c3 charity like Fayette Cares.

In the past, your generous donations have likely been made on an AFTER-TAX basis; which means you gave with proceeds already taxed. To get a deduction you had to itemize on your tax returns. But since most taxpayers now file using the much-higher standard deduction, itemizing is not practical.

Meanwhile, many age 72 or older must satisfy the anual IRS Required Minimum Distributions (RMD’s). This forced distribution of retirement dollars, whether you need it or not, may result in higher Adjusted Gross Income (AGI), potentially higher Medicare premiums, and more!

QCD’s allow you to direct charitable giving from your retirement account DIRECTLY to Fayette Cares. You get the RMD credit and Fayette Cares receives 100% of your donation, without additional taxes.

Talk to your tax professional about this powerful tax-planning tool and caring gift for a great cause. For additional information about our 501c3 designation call (901) 465-3802 x 223 or email

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