If you answered yes to that question, and you have a traditional IRA, then there’s a smarter way to give to the Israel Guide Dog Center. You can make a contribution, also known as a Qualified Charitable Distribution (QCD), from your IRA that is 100% tax free, whether or not you itemize deductions on your tax return.
There are two key factors that many donors consider when making a gift of appreciated assets: impact on our mission and potential tax benefits.
Impact on our Mission
Many of our most committed donors find they’re able to give more generously when they donate appreciated assets than if they’d simply given cash. That generosity means we’re able to achieve more and advance our mission faster.
Potential Tax Benefits
If you are itemizing deductions on your tax return, you may be eligible for a charitable deduction of the full value of your gift. Whether or not you are itemizing deductions, though, donating an appreciated asset can help you avoid paying tax on capital gains.
Always discuss donations with a tax consultant to maximize your benefits