If you are philanthropic by nature, and have a financially comfortable retirement, you may be wondering the best way to donate to your favorite charity. If you are at least 70-1/2 you have a special opportunity in 2008 and 2009. If you transfer your funds from an IRA directly to the charity, they will not be included in your taxable income, as they would if you took an IRA distribution and paid it over to the charity.
You may be wondering why this matters, as the charitable payment is tax-deductible. However, many deductions depend on your adjusted gross income … Read more at 2008 Taxes.
