Your IRA could potentially be taxed up to 60 percent if passed on to your heirs. But there is no tax when it is used as a gift to Josh McDowell Ministry.

If you are over the age of 70, you may be able to make a “tax-free” gift to Josh McDowell Ministry through a IRA Qualified Charitable Distribution (IRA Rollover-QCD). You can make a tax-efficient gift to Josh McDowell Ministry of up to $100,000 directly from the IRA and not recognize it as income.

Note: The SECURE Act increased the MRD (Minimum Required Distribution) age from 70½ to 72. The age for a Qualified Charitable Distribution (QCD), however, still remains at 70½.

The QCD is excluded from gross income, without worry about phase-out of income tax deductions. You can use the standard deduction. The QCD counts toward your minimum required distribution from the IRA for the year.

You can continue to take regular lifetime withdrawals. And you maintain flexibility to change beneficiaries if your family needs change during your lifetime. Your heirs avoid the potential double taxation on the assets left in your retirement account.

Steps:

• Name Josh McDowell Ministry as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
• Pass the balance of your retirement assets to the Josh McDowell Ministry by contacting your plan administrator.
• Tell Josh McDowell Ministry about your gift, as your plan administrator is not obligated to notify us. It helps us to know of upcoming financial donations, and we’d love to celebrate your generosity with you now.

As always, please check with your financial advisor and/or tax attorney.

Contact us so we can assist you through every step.