IRA giving can lower Medicare premiums as well as taxable income?

Image result for money ira rmd cartoonYes, for those over age 70.5 who are now required to take their RMDs (required minimum distributions) from retirement accounts, the extra income from the RMD could cause an increase in Medicare premiums!  In other words: if your age 70.5+ supporter sends his or her RMDs to your charity (you must reach that age to use this law!), they will not only be lowering their taxable income but also possibly lowering their medicare premium costs!  (IRA rollover gifts can be used to satisfy RMD requirements!)

Here is a good article on it that goes into the details on the medicare premium issue: http://www.investmentnews.com/article/20170221/BLOG05/170229982/using-iras-to-reduce-medicare-premiums

The point for fundraisers is this:  you need to get comfortable with IRAs and the basic retirement planning!  IRA rollover gifts can be up to $100,000! Your 70.5 and older donors should already be using it for annual gifts!

Anyway, if you haven’t noticed, I have given several presentation on the new tax plan and will be giving one again TOMORROW 6/13 at NOON EASTERN!  Click here to learn more or register (NOTE THAT IT WILL BE RECORDED AND ALL REGISTRANTS WILL RECEIVE THE RECORDING LINK, TOO, EVEN IF YOU REGISTER AFTERWARDS)

 

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