Is it true? Can I really? There must be some catch?
These are some of the questions I received recently to my suggestion of giving taxes to charity. My answer is a frank, ‘yes’. You can give some of your taxes to any qualified public charity. The “giving” I am talking about is called Qualified Charitable Deduction (QCD).
Last December Congress made a permanent provision in the tax code. Please note, there are two catches. First, you must be age 70 ½ or older, and second, you must make the donation only from an Individual Retirement Account (IRA).