RETIREMENT

Make a difference today and save on your taxes by supporting UWNA through your required minimum distribution (RMD) from your IRA account.

Starting when you’re age 73, the required minimum distribution (RMD) is the specific amount of money the IRS requires you to take from your tax-deferred retirement accounts each year. Failure to take out the minimum can lead to an excise tax of up to 25%.

These funds are typically counted as income and therefore subject to federal and state taxes. But you can give any amount (up to a maximum of $111,000) per year from your IRA directly to a qualified charity such as United Way of Northern Arizona without having to pay income taxes on the money. 

You can feel good knowing your part or all of your RMD is difference at Mile High United Way – and lowering your tax obligations. This popular gift option is commonly called the IRA charitable rollover, but also can be referred to as a qualified charitable distribution, or QCD for short.

Why Consider This Gift?

• Your gift will be put to use today, allowing you to see the difference your donation is making.
• Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.