Generosity Team Giving Tip

If you are age 72 or older, IRS rules require you to take required minimum distributions (RMDs) each year from your tax-deferred retirement accounts. If you have an RMD on your own account or an inherited account and you do not need the funds, donating directly to the Church is a great option. If you are 70 ½ or older, you may choose to donate your RMD as a qualified charitable distribution (QCD), which can be excluded from your taxable income up to $100,000. Consult your tax professional or financial advisor to learn more about this wonderful way to support the mission of Hyde Park and lower your taxable income at the same time!