For retirees, using your Independent Retirement Account (IRA) to make donations to your favorite charity has tax benefits. Attorney Bob Ross of Ross Estate Planning in Sturgeon Bay says anyone over 70 ½ years of age must have required distributions to take money out of their IRAs. He explains why charitable contributions that come directly out of the IRA makes sense for those individuals.
Ross says Door County has over 300 non-profit organizations in need of support. IRA Direct contributions are just quick and tax-friendly ways of making a difference and protecting your legacy, according to Ross.