Enhancing Your Retirement Strategy with Charitable Distributions 

Planning for retirement isn’t just about securing financial stability—it’s also an opportunity to leave a lasting impact through charitable giving. I’m Ben Payton, CFP®, ChFC®, specializing in retirement income planning at Absaroka Wealth Management. Join me as we explore how charitable distributions from retirement accounts can maximize your impact and tax efficiency. 

What are Charitable Distributions? 

Charitable distributions, specifically Qualified Charitable Distributions (QCDs), allow individuals aged 70½ or older to donate directly from their Individual Retirement Accounts (IRAs) to qualified charitable organizations. Here’s a detailed look: 

1. Age Requirement: Available to IRA owners aged 70½ or older (adjusted to 72 due to the SECURE Act in 2020). 
2. Tax Benefits: The donated amount is excluded from taxable income, satisfying Required Minimum Distributions (RMDs) without increasing taxable income, potentially reducing overall taxes. 
3. Annual Limit: You can donate up to $100,000 per year per individual IRA owner. Spouses can each make separate QCDs from their IRAs, maximizing contributions. 

Benefits of Charitable Distributions 

• Tax Efficiency: Reduces taxable income, which is particularly advantageous for non-itemizing taxpayers, while supporting causes you care about. 
• Support for Charities: Directly contribute to eligible charities while fulfilling IRA distribution requirements. 
• Simplicity: Streamlines charitable giving by transferring funds directly from your IRA to a charity, bypassing potential tax implications. 

Considerations Before Making Charitable Distributions 

1. Charity Eligibility: Ensure the charity is a qualified 501(c)(3) organization eligible to receive tax-deductible contributions. 
2. IRA Type: QCDs apply to traditional IRAs and Roth IRAs, not employer-sponsored retirement plans. 
3. Consultation: Discuss your charitable and retirement objectives with a financial advisor like myself, Ben Payton, for personalized guidance on implementing QCDs. 

How I Can Help 

At Absaroka Wealth Management, I specialize in retirement income planning and can assist you in integrating charitable distributions into your overall financial strategy. With expertise in tax-efficient strategies and charitable planning, I help clients maximize their retirement savings while supporting causes that matter most to them. 

Take the First Step Towards Charitable Giving and Retirement Planning 

Ready to explore how charitable distributions can enhance your retirement strategy and support meaningful causes? Schedule a meeting with me, Ben Payton, CFP®, ChFC®, at Absaroka Wealth Management today. I provide personalized advice to help you implement a plan that aligns with your values and financial aspirations. 

Don’t hesitate—call me today to schedule a consultation at (307) 586-2702 or schedule a time below. Let’s work together to maximize your retirement savings and leave a lasting legacy through charitable giving. Start planning today for a brighter tomorrow, both for yourself and your community. 

*This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.