Did you know that you can reduce your tax bill by donating to the AHS Foundation, even if you are retired?
Once you reach the age of 70 1/2, you must take required minimum distributions from your retirement accounts — or you face penalties. If you’re among the lucky people who don’t need this income for living expenses, you have the option of donating some or all of it to aa 501(c)(3) organization such as the AHSF. Some stipulations apply, however, if you want to qualify for the tax break. You can’t withdraw the funds and then donate them — instead, your IRA trustee must transfer them directly from your IRA to the charity.
This U.S. News article details the requirements and procedures for making these donations. To learn more about how you can donate to AHSF, contact Mike Block.