Time to QCD

Last night Connie and I spent time giving away money, it was like being on Amazon (we did that too) only no waiting for packages. It was our annual session of who receives a qualified charitable distribution (QCD). We have a list that goes from the church to food pantry’s, soup kitchens, St Jude’s hospital, the Williamsburg Foundation and a few others. I like to direct most to organizations that focus on individuals. 

It’s a fun process and financially painless. We have to take the money anyway so why not use it tax free? I see it much like driving down toll roads using  Ez-pass and avoiding toll booths. That drive is free too…isn’t it? 🤑

If you are in a charitable mood and facing RMDs, using QCDs is the way to go and now is a good time because the checks you send are supposed to be cashed by December 31. Make sure your IRA record keeper makes the check payable to the charity. We have the checks mailed to us and we send to the charity though.