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Tax Planning Archives

Year-End Charitable Giving and Qualified Charitable Distributions

As the end of the year quickly approaches, taxpayers may be thinking about their final charitable gifts as well as ensuring that they have taken their required minimum distributions from their IRAs. Utilizing a Qualified Charitable Distribution (a QCD) may help some taxpayers satisfy both of these goals. Additionally, with the tax reforms adopted for 2018, fewer taxpayers are able to utilize itemized deductions. For these taxpayers, utilizing a QCD also may provide a tax deduction.

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Quinn Law Firm
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Erie, Pennsylvania 16506

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