A Tax-Saving Way to Help the Cancer Support Community
Make a difference today and save on taxes. It is possible when you support the Cancer Support Community through your IRA.
A Special Opportunity for Those 70½ Years Old and Older
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as the Cancer Support Community of Greater Ann Arbor without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at CSC. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums an decrease the amount of Social Security that is subject to tax.