RECOSA has been fortunate to receive some generous donations over the years. Did you know that it is possible for an individual to donate money from an individual retirement account to a charity and receive a tax deduction?
When you are advised to take a required minimum distribution from your IRA, consider making a donation to RECOSA, a 501(c)3 non-profit, to minimize your tax for the year. Consult with your tax advisor to see how you might benefit from such a donation. You may also want to consult this website for more information.
Can I Use Money From My IRA to Donate to Charity?
Yes, you can use money from your IRA to donate to qualified charities. Better yet, you can get a tax break by do…