If you are over the age of 70 1/2, you can utilize QCDs. This allows you to transfer up to $105,000 per year directly from your traditional IRA to the Northeast Texas National Organization for Women Foundation!

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How it works:

Instead of taking a distribution yourself, you instruct your IRA custodian (i.e. Fidelity, Schwab, or Vanguard) to issue a check or wire transfer directly from your IRA to NETNOWF.

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Because the money goes straight to us, it is excluded from your Adjusted Gross Income. It shows up as $0.00 of taxable income on your Form 1040. You do not need to itemize deductions. You can still take the full, higher Standard Deduction for your household and get the full tax benefit of your charitable giving.

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The rules:

• You must be at least 70 1/2.

• You can donate up to $105,000 per individual, per year. If you have a spouse, you can collectively donate up to $210,000 per year!

• The money must go to a standard 501(c)(3) public charity, which the NETNOW Foundation is!​