The Bubble Run by Cool Events, which was scheduled to take place on the EAA AirVenture Oshkosh grounds today, Saturday, September 9, was canceled in January. Please visit their website to contact them at https://bubblerun.com.
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End of Year Giving Strategies
October 14, 2021 – The CARES Act waived all 2020 Required Minimum Distributions (RMDs) for retirement accounts. However, you will be required to take RMDs in 2021.
If you are age 70 ½ or older, a qualified charitable distribution (QCD) from a traditional IRA can satisfy your RMD for the year AND reduce your income taxes but only if your charitable contribution is made directly from the IRA custodian or trustee to the charity.
QCDs are limited to no more than $100,000 annually and can only be made from an IRA or a simple employee pension plan and simple IRAs only when the plan has not received an employer contribution for the plan year. Also, the IRA owner cannot receive any benefit from the charitable contribution but it can be used to satisfy a pledge made with the charity.
If interested in directing a QCD from your IRA directly to the EAA Aviation Foundation, please contact a member of the Foundation Team at 888-500-5600.
This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.