|
From Utah to Florida, brewers across the country snagged medals at the 2025 GABF, proving good beer knows no borders.
|
RELATED ARTICLES | | | | |
|
Traders are bracing for further declines as the bitcoin price crash suddenly accelerates amid uncertainty over U.S. president Donald Trump's fresh China tariffs...
|
|
iPhone 17 vs. iPhone Air Battery Test Showdown: I Just Crowned A New Winner CNETApple iPhone 17 Pro Max vs. Samsung Galaxy S25 Ultra: I tested both flagships, and here's who wins ZDNETiPhone 17 battery life results are in — how do the new iPhones compare to other flagships? Tom's GuideSamsung Galaxy S26 Ultra vs. iPhone 17 Pro Max: Which One is Worth Waiting For? Geeky Gadgets
|
|
Alabama vs. Missouri live updates: Game score, analysis as Ty Simpson leads Tide into SEC clash with Tigers CBS SportsWhere to watch Alabama vs. Missouri: TV channel, live stream, prediction, pick, odds, spread CBS SportsAlabama vs Missouri football live updates: Score, highlights for SEC Week 7 game USA TodayAlabama's opponent takes to the comedy stage this week AL.com
|
|
Windows 10 support ends October 14, but here's how to get an extra year for free EngadgetWindows 10 Security Updates Will End on Tuesday, but You Still Have This Option CNET3 Free Ways to Upgrade to Windows 11 (And 1 Option for Incompatible PCs) PCMagStill on Windows 10? You've got until October 2025 to upgrade — here's how to do it Windows Central
|
|
Morgan Stanley will rely on its automated monitoring processes to make sure clients are not overly exposed to crypto.
|
|
A common challenge many fast-growing companies face isn't a lack of opportunity but capital misalignment. Here's how to stay on track.
|
|
Employers can tap into the large pool of recent college graduates struggling to find jobs by creating flexible, value-driven workplaces that attract, engage and retain Gen Z talent.
|
|
Evaluating your plan can save you thousands of dollars
|
|
Plenty of retirees like to give back to their communities through charitable donations, but questions often arise over the best way to do that.
What approach is efficient, provides the tax benefits you're after, and also is advantageous for the charity that's on the receiving end?
SEE MORE Ever Dream of Having a Building Named After Yourself?
One possibility is a qualified charitable distribution (QCD), a tax-savvy way to reduce your taxable income and maximize your donations whether you itemize deductions on your tax return or not. An added bonus is that the benefits can be large for both the donor and the charity.
Here's How QCDs Work
A QCD is a distribution from an IRA that is paid directly from that retirement account to a qualified charity. QCDs lower your adjusted gross income (AGI) and therefore lower your tax bill. They can also offset required minimum distributions (RMDs), those withdrawals you must take from your IRA each year once you reach age 72. An RMD adds to your income, raising the amount of taxes you pay, but a QCD is excluded from your income. So, for example, if you withdrew $50,000 from your IRA as an RMD, you would pay taxes on that money. But if that same $50,000 was used as a QCD instead, you avoid the taxes while helping a charity at the same time.
SEE MORE Every Dollar Counts: How to Evaluate a Nonprofit
Taxpayers can benefit from QCDs even when they take the standard deduction and do not itemize their deductions. Meanwhile, even though a QCD doesn't count as an itemized deduction, tax
|
|
When professional baseball player Austin Barnes extended his contract with the Los Angeles Dodgers for another two years, he specifically included in the agreement a commitment on his part to make charitable donations.
That was a generous move and a financially savvy one all at the same time. He can put his money to work helping causes he believes in, while also enjoying tax advantages.
SEE MORE Which Type of Donor-Advised Fund Is Right for You?
Most of us don't have multimillion-dollar professional sports contracts like Barnes, but there are ways to increase your own donations and, at the same time, reduce your tax bill.
After all, you probably have a cherished cause — a church, an animal rescue organization, a homeless shelter or some other nonprofit — that you want to help. With charitable donations, you can choose specifically how your money is put to use, which isn't the case with your tax dollars, which just go into the big tax pot in Washington.
Think of it this way: If you were told that you aren't going to be able to keep $10,000 anyway, wouldn't you prefer to have a say in exactly how it is spent?
With that in mind, here are five ways to make charitable giving a key part of your financial plan:
1. Set up a donor-advised fund (DAF)
This is a strategy that isn't put into play often enough, in part because many people don't know about it. A donor-advised fund allows you to make a sizable charitable donation that you can claim immediately as a tax deduction. The money isn't donated immediately, though. Inste
|
|
