Tax Planning
QUALIFIED CHARITABLE DISTRIBUTIONS
As you think about year end tax planning, check with your tax professional about making a gift via a Qualified Charitable Distribution (QCD) from your retirement account.
This makes tax-free what would otherwise be a taxable distribution from an IRA if paid directly to a charity, and is a useful tax-saving device. the QCD counts towards the Required Minimum Distribution (RMD) and is not taxed, which means that the tax on the required distribution is reduced. Note: Only those over age 70.5 are able to take advantage of the QCD benefit.
How to Donate
BY MAIL
Mail your donation to
Somerset County Historical Society
PO Box 863, Princess Anne, MD 21853
Please indicate how we should apply
your donation: General Trust Support, Teackle Letter Project, In Memory Of