If you or a family member has reached the age of 70 ½, you might have heard of a tax benefit known as the Qualified Charitable Distribution (QCD), which allows you to direct up to $100,000 annually from your IRA to a qualified charitable organization...
The McPherson County Community Foundation(MCCF) is committed to working with you and your family to fulfill your charitable goals, whether those goals relate to making an impact, leaving a legacy, saving money on taxes, expressing gratitude, or a combination of objectives. If you have not...
If you’ve been involved with charitable giving for a few years, you’ve no doubt become familiar with both private foundations and donor-advised funds and their popularity as charitable giving tools. As is often the case with tax and estate planning-related topics, the differences between private...
If you’ve been involved with the McPherson County Community Foundation for a while, you’ve likely heard of the Qualified Charitable Distribution (“QCD”) because we mention it a lot. And with good reason! If you are aged 70 ½ or older, it is well worth your time...
The change of seasons is often an opportunity to catch our breath and reassess. We’re done with taxes, really done with cold weather (hopefully), and feel a sense of renewal as our attention turns to gardening and other growth-oriented, warm weather pursuits. And, many of...
Not a day goes by at the community foundation without our team talking with fund holders–and potential fund holders!--about philanthropy in our community and all the ways charitable giving can make life better for everyone who lives here. Recently, we’ve noticed an uptick in interest...
Though often unappreciated, the annual passage of tax season has benefits. For one, it offers some finality to the prior year in that we finally know if we owe or are due a refund. For example, for the 2021 tax year, the IRS processed 88 million...
If you get cross-eyed when you start reading about Required Minimum Distributions (RMDs) and Qualified Charitable Distributions (QCDs), you are not alone! And, given the December 2022 passage of SECURE 2.0 legislation, changes to RMD rules are especially important to understand if you are involved...
When the Inflation Reduction Act was signed into law in August, many taxpayers were relieved that the Act did not include heavily-debated proposed tax hikes that were so prominent in early versions of the legislation. What’s weighing on a lot of taxpayers’ minds, however, even...
This month, we’re offering three suggestions for deeper reading on current topics in charitable giving. Bring out your inner academic with this blog post published by the Lilly Family School of Philanthropy at Indiana University, especially if you’re interested in the latest chatter and variety of...