Avoid taxes for you and your heirs, AND help United Way at the same time, whether or not you itemize!
With your IRA, you can help further United Way’s mission of driving sustainable improvements in the well-being of children, families, and individuals in our community through maximizing your charitable impact. United Way can be named as a partial, primary or contingent beneficiary. In most cases, it is as simple as filling out a short form with your plan administrator to name United Way as a beneficiary.
Qualified Charitable Distributions (QCDs) and Required Minimum Distributions (RMDs) are the savviest way for individuals age 70½ or older to use their IRAs to maximize their charitable impact.
QCD: Any taxpayer that is 70.5 or older with a traditional IRA can give a tax-free gift called a QCD to the United Way of Greater Atlanta. These gifts can be made whether or not you itemize and reduce your future tax burden. This is a smart giving option to reduce your future RMDs. Donors can transfer up to $100,000 directly from their IRA to United Way on an annual basis. By donating it to United Way, you avoid income taxes on the distribution.
RMD: If you are 72 years or older, you can use the IRA rollover transfer to United Way to meet all or part of your annual RMD.
Talk with your financial advisor or tax professional to determine your best strategies. Contact your United Way representative for a confidential conversation about ways to save on taxes while supporting our community.
