Using your Independent Retirement Account (IRA) to donate to your favorite charity has tax benefits for retirees. Attorney Bob Ross of Ross Estate Planning in Sturgeon Bay says anyone over 72 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 make sense for those individuals.
Ross says Door County has over 300 non-profit organizations needing support to continue their services. He notes that an IRA Direct contribution is a quick and tax-friendly way to make a difference and protect your legacy.
