QCD - Donations — Transcript

Full transcript

1. 0:00Hello everybody. It's a beautiful day
2. 0:02here in Austin. Nice morning. And as you
3. 0:05can see, I'm on the Lake Austin visiting
4. 0:08my good dear friends Doug and Donetta.
5. 0:12And I'm here to film a clip at the
6. 0:14request of our fantastic chief executive
7. 0:17officer Christopher Nton about qualified
8. 0:20charitable distributions.
9. 0:23QCD is pretty simple thing. I first
10. 0:26learned about it from a friend of ours
11. 0:27that's an AR Bob who was a real estate
12. 0:30person in California and always enjoyed
13. 0:32good real estate fresh looks and he used
14. 0:36some of his QCD money to put in new
15. 0:39signage in the lobby and to refresh our
16. 0:42landscape. Anyway, I went to uh Charles
17. 0:46Schwab and I asked my rep to print out
18. 0:49the QCD form and we filled it out there
19. 0:52in his office. You can do it online, but
20. 0:55it's pretty simple. Uh, I filled it out
21. 0:58to the Association for Research and
22. 1:01Enlightenment Incorporated, a 501c3A,
23. 1:06a Virginia based nonprofit, and uh, AR
24. 1:11staff can send you some brochures or
25. 1:13information about qualified charitable
26. 1:15distributions.
27. 1:17>> Thank you, Clark, and thank you for
28. 1:19joining us. So, I'm Christopher Nton,
29. 1:21CEO here [music] with Edgar Casey's AR.
30. 1:23And let me get to the practical part. If
31. 1:25you are 7 and 12 years old or older and
32. 1:28you have a traditional IRA, you can have
33. 1:31your finance company send that money
34. 1:33directly to AR and you can get the tax
35. 1:36break [music] that you want. It's called
36. 1:39a qualified charitable distribution or
37. 1:41QCD. And this year, [music]
38. 1:42the government is permitting up to
39. 1:44$111,000 per person or $222,000
40. 1:48[music]
41. 1:49if you and your spouse both qualify. And
42. 1:52why it matters is that money [music]
43. 1:53will never appear on your tax return as
44. 1:56income whether you itemize or not. And
45. 1:59what that means is if you're required to
46. 2:01take money out of your IRA each year,
47. 2:03this counts towards it without raising
48. 2:05your taxable income. That gift should
49. 2:08come directly [music] to us or at the
50. 2:10very least the check that you receive
51. 2:12from your financial company should be
52. 2:14uttered or listing [music]
53. 2:16as the recipient. If you do that and
54. 2:18don't co-mingle the funds, then you will
55. 2:20get the full tax [music] deduction. And
56. 2:23once you've done that, the deadline
57. 2:25being December 31st, give me a call at
58. 2:28757-4577160
59. 2:31[music] or write to me at
60. 2:33cntonedgarcy.org.
61. 2:36I'd like to thank you myself from all of
62. 2:38us here [music] at Thank you for your
63. 2:41great generosity for you are the engine
64. 2:43that keeps this work going.