@giveeveryassetajob: If you're writing checks to charity in retirement without using QCDs, you're probably leaving thousands of dollars on the table. ⚠️ One common mistake I see is people taking money out of a retirement account, paying taxes on it, and then writing a check to charity. Unless you itemize deductions — which very few retirees do once they're taking the standard deduction — there's often little to no tax benefit to giving this way. 📋 Qualified Charitable Distributions change that. After age 70½, a QCD lets you send money directly from your IRA to a qualified charity. That amount never shows up as taxable income. That's often more powerful than a deduction, and when done correctly, it can also satisfy part or all of your Required Minimum Distribution. 💡 If you're in the 22% tax bracket and your RMD forces out $10,000, you'd normally owe $2,200 in federal taxes whether you need the money or not. With a QCD, that same $10,000 goes straight to charity, satisfies your RMD, and you pay zero tax on it. This isn't a loophole. It's an intentional incentive in the tax code for people who already give — you just have to use it the right way. If charitable giving is part of your retirement plan, schedule a call with me through the link in my bio. Carl Woolston is a financial advisor in Salt Lake City, Utah, serving clients nationwide. #moneytok #retirement #PersonalFinance #QCD #charitablegiving

Carl Woolston, CFP®, ChFC®

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Thursday 27 August 2026 21:07:54 GMT