Qualified Charitable Distribution

Why choose to give a Qualified Charitable Distribution (QCD) to Harmony Retreat & Animal Rescue?

QCDs are a great option for making a tax-free donation to a 501(c)(3) organization* that is eligible to receive tax-deductible contributions.

If you are 70 1⁄2 years of age or older, AND you have an Individual Retirement Account (IRA), please consider a making a Qualified Charitable Donation (QCD) to Harmony Retreat & Animal Rescue. The maximum annual amount that you can take as QCDs is $100,000. 401 (k)s, pensions or profit-sharing plans are not eligible for QCDs (though you could
roll money from these accounts into an IRA and then make a QCD).

A QCD is a distribution directly from your individual retirement account (IRA) to a qualified charity. A QCD is not taxed, nor is it included in your taxable income. This has several benefits:

  1. Because it is not included in your taxable income, you don’t pay taxes on it.
    Please note that while you cannot deduct a QCD when filing your taxes, there is
    still a tax savings due to the lower income reported.
  2. You get to support your favorite qualified charities.
  3. When you donate to a qualified charity, every penny you give goes directly to the
    cause, making your impact significant.
  4. It counts towards your Required Minimum Distribution (RMD).

Note: We at Harmony Retreat & Animal Rescue are not tax or financial professionals, and the information provided here is for general informational purposes only. It should not be considered as professional advice. For personalized guidance regarding tax or financial matters, consult with a qualified professional. Also to note, while a QCD is not subject to withholding on your federal income tax return, state tax rules may differ. Ask a tax professional or your state income tax office for specifics on QCDs in your state.

*Harmony Retreat & Animal Rescue (HRAR) is a non-profit 501(c)(3) that is eligible to receive tax-deductible contributions.