JAVS Spring 2023

Every year I have a sizable sum to donate to our church, the AVS, some local music organizations, and to my wife’s favorite 50(c)(3) organizations. I take the remainder of my RMD requirement (from other IRA’s), make additional donations as desired, and reinvest the rest in non-retirement funds. My wife’s RMD requirement is fulfilled yearly; we live/ travel on some of the proceeds and reinvest the remainder. It all works pretty slick and we’re very happy.” Hopefully the ideas above got you thinking about fulfilling your RMD obligation in a charitable way. If so, a QCD might be just the right thing for you. If not, we will have other “ smart move ” ideas in next installment of The Development Corner

This article is for educational and entertainment purposes only and is not intended as a substitute for tax advice. Please consult your tax advisor for guidance. Footnotes A Traditional ROTH IRA is the only retirement vehicle not subject to the RMD. Please check with your tax consultant as IRS rules are subject to change.

Journal of the American Viola Society / Vol. 39, No. 1, Spring 2023

29