Did You Know? Donating Through Your IRA Can Help Animals in Need

As the year comes to a close, many of us start thinking about taxes, charitable contributions, and ways to make a lasting impact. But did you know that you can use your Individual Retirement Account (IRA) to support causes that matter to you, while also reaping some significant tax benefits?

It’s something not everyone knows about, and we wanted to bring it to your attention before the year wraps up. Donating directly from your IRA, through a Qualified Charitable Distribution (QCD) or utilizing your Required Minimum Distribution (RMD), can be a powerful way to make a difference for the animals at Famous Fido Rescue, all while potentially lowering your taxable income.

What is a QCD and How Does it Work?

A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA to a qualified charity, like Famous Fido Rescue. If you’re 70½ or older, you can give up to $100,000 per year to a charity like ours through a QCD. The best part? These funds won’t be taxed as income, which can help reduce your tax bill while making a real impact on the lives of animals in need.

How About RMDs?

Once you reach 73, the IRS requires you to take Required Minimum Distributions (RMDs) from your traditional IRA each year. If you don’t need these funds, you can donate them directly to a qualified charity like us! By donating your RMD through a QCD, you won’t have to pay taxes on the amount donated, and the gift goes directly toward helping animals who need it most.

Why Should You Consider Donating Through Your IRA?

• Tax Benefits: Donations through QCDs can reduce your taxable income, which might help you lower your overall tax burden.
• Help Animals in Need: Your contribution helps support the critical work we do at Famous Fido Rescue — from providing shelter to medical care for animals in need.
• Simple and Efficient: It’s easy to do! Just contact your IRA custodian to arrange for the QCD, and your gift can go directly to the animals.

Make a Difference Today

Your IRA can be the perfect tool to help us continue our mission of rescuing and caring for animals like the kittens and Prince. Donating through a QCD or your RMD can make a significant difference, all while offering you important tax advantages.

As the year comes to a close, please consider making a donation that will leave a lasting legacy. Every dollar you give goes toward saving lives, providing medical care, and ensuring a better future for animals in need. Contact us today if you have any questions about how to donate through your IRA — we’re here to guide you every step of the way!

Thank you for your support, and we wish you a happy and fulfilling end to the year!