This article is only for Distinguished Mature Trinity members (you know who you are and I ain’t telling),
and meet these four conditions: are at least 70 ½, have an IRA, donate to Trinity and pay Federal taxes.
You able to increase the amount of money you contribute to Trinity without costing you a penny more
than you contribute today. You can make a Qualified Charitable Distribution (QCD) and the government
does not tax your deduction.
Suppose you make a yearly $1,000 contribution to Trinity and are in the 10% tax bracket, you have to
have $1,111.11 in taxable income to have $1,000 left over after paying taxes. So, with a QCD, you could
give Trinity the before tax $1,111.11, or give Trinity the $1,000 and keep the $111.11. You call your
IRA administrator and tell them you want to make a QCD to Trinity Lutheran Church, Brewster, NY,
which is a qualified 501(b)3 recipient of QCD donations (I checked), and that they should make a check
out to Trinity Lutheran Church, Brewster, NY, and send it to Trinity Lutheran Church, 2306 Rt 6,
Brewster, NY.
At tax time you or your accountant fill out the appropriate lines to indicate a QCD and Uncle Sam doesn’t
tax the QCD donation, saving you the tax. Please check with your tax advisor for details, as I am not
qualified to say I have everything correct, but you get the idea. Uncle Sam is out the money, not you.