If you are looking for a smart and impactful way to contribute to Famous Fido Rescue, donating through your Individual Retirement Account (IRA) is a great option. Here’s how you can help the animals while benefiting from potential tax advantages:

1. Qualified Charitable Distributions (QCDs)

A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA to a qualified charity like Famous Fido Rescue. If you are 70½ years or older, you can donate up to $100,000 per year directly from your IRA to charity, and it will count towards your Required Minimum Distribution (RMD) for the year. The key benefit of a QCD is that the amount donated is not counted as taxable income, which can help lower your tax liability.

Why Donate with a QCD?

  • Tax Benefits: Reduces your taxable income, which may lower your overall tax bill.
  • Easy: No need to pay income tax on the donation amount.
  • Impact: Your charitable gift supports the rescue, care, and rehabilitation of animals in need.

2. Required Minimum Distributions (RMDs)

Once you reach 73 years old (or 70½ if you were born before July 1, 1949), the IRS requires you to start taking annual distributions from your traditional IRA. If you don’t need the funds for personal use, you can donate a portion or all of your RMD to Famous Fido Rescue through a QCD.

How Does This Help?

  • Fulfill Your RMD: Donate your RMD directly to Famous Fido Rescue without paying taxes on that portion.
  • Maximize Your Giving: Every donation counts, helping to provide food, medical care, and shelter for animals in need.

3. How to Make a Donation from Your IRA

  • Contact your IRA custodian to request a QCD to Famous Fido Rescue.
  • You can specify the amount you would like to donate directly to us.
  • Be sure to include our tax identification number (EIN: 36-4675145) and confirm that Famous Fido Rescue is a qualified charity.

4. Additional Benefits of Donating Through Your IRA

  • No Impact on Your Standard Deduction: Since QCDs are not included in your taxable income, you won’t need to worry about the limitations on your standard deduction.
  • Support Your Local Community: Your donation helps us continue our mission to rescue and care for abandoned, neglected, and abused animals in need of loving homes.

Consider using your IRA to make a lasting impact today. With your contribution, we can continue our important work at Famous Fido Rescue and provide animals the love and care they deserve. If you need more information about QCDs, RMDs, or how to get started, please don’t hesitate to reach out to us!