PUAH Nonprofit Overview and Reviews on GreatNonprofits

more ways to donate

Donate Stock

PUAH has a Morgan Stanley stock brokerage account if you are interested in donating stock. For more details please reach out to isaac.simon@morganstanley.com
Donate your Charitable IRA

Charitable IRA can help you give and save taxes!

A qualified charitable distribution (QCD) allows individuals who are 70½ years old or older to donate up to $100,000 total to one or more charities directly from a taxable IRA instead of taking their required minimum distributions. As a result, donors may avoid being pushed into higher income tax brackets and prevent phaseouts of other tax deductions, though there are some other limitations.
How do qualified charitable distributions work?
Understanding qualified charitable distributions begins with understanding required minimum distributions. People who hold Individual Retirement Accounts (IRAs) are required to take RMDs each year beginning at age 70½—even if they don’t need or want the funds. That same required minimum distribution increases the IRA holder’s total taxable income.
This increase could potentially push the taxpayer into a higher income tax bracket. It may trigger phaseouts, which limit or eliminate some kinds of tax deductions, such as personal exemption and itemized deductions, and sometimes trigger high taxes on Social Security income.
How QCDs Work:
QCDs are also called IRA charitable distributions or IRA charitable rollovers. They enable individuals to fulfill their required minimum distribution by a direct transfer of up to $100,000 to charity. They can also be used to support multiple charities, as long as the sum of the distributions is within the $100,000 limit. But because QCDs don’t increase taxable income, both higher tax rates and phaseouts can be avoided.
In addition, because QCDs reduce the balance of the IRA, they may reduce required minimum distributions in future years. QCDs are also not counted toward the maximum amount deducted for those who itemize their giving on their taxes—the $100,000 can be above and beyond those limits. For these reasons, a QCD can potentially enable a donor to give a bigger charitable gift than they could if they just donated cash or other assets. Your donation helps couples have a baby! that has an impact for generations!
How QCDs are made:
Qualified charitable distributions are made directly to the eligible charity from a traditional IRA, inherited IRA, inactive Simplified Employee Pension (SEP) plan and inactive Savings Incentive Match Plan for Employees (SIMPLE) IRAs. (Inactive SEP and SIMPLE IRAs are accounts that no longer receive employer contributions.)
The money is a direct transfer that never passes through the hands of the IRA holder. Instead, the IRA custodian can send a check directly to PUAH.
For a QCD to count toward your minimum annual IRA distribution, it must be made by the same deadline as a normal distribution, which is usually Dec. 31 of the tax year in question.
An individual donor can contribute up to $100,000 per year in QCDs, as long as that individual is 70½ years old or older. For married couples, each spouse can make QCDs up to the $100,000 limit for a potential total of $200,000.
PUAH is a qualified charitable organization and you will help build families and futures in Am Israel!

*Before giving your charitable distributions please consult with your tax advisor to understand the impact on your tax liabilities. This article is not meant as tax advise but information about the Charitable IRA.

**For more information please contact isaac.simon@morganstanley.com.
© 2019     PUAH P.O. Box 297185   |   Brooklyn, NY 11219   |   (718) 336.0603   |   Fax: (718) 336.0683