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Today is Colorado Gives Day! Do some good with your RMD

Doing good feels (even) better with a tax write-off. We have a recommendation for you this holiday season.

Individuals that exceed the 70-½ age threshold are required by the IRS to take minimum distributions (RMDs) from their traditional IRAs, which have been growing tax-free since inception. The IRS will take a percentage of the investment gains in the form of taxes when the RMDs are distributed.

Why not roll some of that required minimum distribution (RMD) into a charitable gift to your favorite non-profit? That way, you not only do good for your cause, you also can reverse the taxable gains in the form of a tax deductible, gift-giving contribution.

While we’re talking about giving, we want to give a shout out to some of the non-profits where our clients serve in key roles and a couple community interests here at Wambolt:

Read about two of these volunteer-driven success stories on our blog. And submit your favorite charities to info@wamboltwealth.com to be included in our Wambolt community charitable-giving list. If you hold a board or other position with the charity, please let us know that too.

Year-end giving

Your Wambolt Advisor is available to help facilitate your charitable-giving. Set up an appointment today.

Learn moreCharitable giving in 2018 takes on a new look

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