Distributions from an IRA are usually treated as taxable income.
However, you can avoid this taxable income when you make a Qualified Charitable Distribution to The Kolbe Mission.
Are you over 70½ years old and required to take annual minimum distributions from your IRA?
- A Qualified Charitable Distribution to The Kolbe Mission made directly from your IRA could potentially save you money on your Income Tax Bill and Medicare premiums!
Do you want to lower your income taxes but can no longer itemize deductions?
- A Qualified Charitable Distribution made directly from your IRA to The Kolbe Mission could be a way to receive a tax benefit from your gift.
- Each dollar gifted directly from your IRA reduces your taxable income dollar for dollar!
- For example, if you are in the 22% bracket, even a $1,000 Qualified Charitable Distribution from your IRA will save approximately $220 in federal tax and $40 n AZ state income taxes!
Is your income nearing the Medicare high-income surcharge?
- In 2022, single people will pay progressively more for their monthly Medicare premiums once their income is over $91,000.
- Married couples will pay more monthly once their income is more than $182,000.
- Ask your tax preparer if a Qualified Charitable Distribution made directly from your IRA would lower your income sufficiently to pay less in monthly Medicare premiums
How do I make a Qualified Charitable Contribution from my IRA?
Talk to your IRA Custodian. Checks should be made payable to:
The Kolbe Mission
5020 E. Shea Blvd Suite 150
Phoenix, AZ 85254
A 501(c)(3) organization, EIN: 853145743
For your specific tax savings examples talk to your tax preparer.
401K & Pension charitable distributions are not eligible direct tax deductions.