Here at Childcare Worldwide, we strive to be good stewards of the funds given to us, and we also love to offer ways for YOU to be good stewards of your funds too! If you are 70 or older, did you know that there is a convenient, cost-effective way to experience the joy of giving and make a life-changing impact on children?
Once you reach the age of 70 ½, annual withdrawals from traditional retirement accounts are required. Income tax would normally be due on those funds, BUT if you don’t need your distribution for living expenses, you can avoid that tax by donating the distribution directly to Childcare Worldwide!
You can give up to $100,000 from your IRA (or $200,000 for couples) and receive significant tax benefits in return. Gifts from your IRA…
- allow you to give in a substantial way without affecting your cash flow,
- reduce your taxable income (whether or not you itemize!),
- can be used to fulfill any charitable pledges you’ve made, AND
- will fulfill all or part of your required minimum distributions.
For a qualified charitable distribution count towards your current year’s required minimum distribution, the funds must come out of your IRA by December 31.
Don’t wait! Talk to your financial planner or tax consultant about giving today!