A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity such as Friends of John Paul School. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.

In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.

Also, QCDs don’t require that you itemize, which due to the recent tax law changes, means you may decide to take advantage of the higher standard deduction, but still use a QCD for charitable giving.

Please consult your financial planner or CPA to confirm these benefits for you based on your specific situation and to initiate a QCD to Friends of John Paul School.