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Archives for January 18, 2017

RMDs and Charitable Contributions

A qualified charitable distribution is one that is not taxable. For 2017 and going forward, these distributions are an option for IRA owners age 70 ½ and up. If an individual instructs his or her IRA to make a distribution directly to a qualified charity, that amount can be deducted from the required minimum distribution (RMD) for the year.

For example, if your RMD is $10,000, and you direct $7,000 to be paid out to a qualified charity, you need only withdraw (and pay taxes on) an additional $3,000 to meet your RMD quota for the year. Note, too, that the amount you contribute to a charity from an RMD cannot be claimed as a charitable deduction on your tax return.

This hypothetical example is for illustrative purposes only. This information is not intended to provide tax advice.  Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial strategy.

Ryan Keapproth

Ryan Keapproth

Financial Advisor

Ryan is dedicated to serving clients to achieve their retirement goals. Ryan’s holistic approach centers on wealth management strategies with a focus on income planning throughout retirement. As a Financial Advisor, Ryan is an Investment Adviser Representative (IAR), life and health insurance licensed and a Certified Tax Preparer. Ryan is a graduate of the University of Minnesota, with an Accounting and Finance major.​

Ryan is a lifelong Minnesotan originally from Woodbury and currently residing in Bloomington with his wife, Riamae, and their rescue Terrier Beagle mix, Douglas. Ryan and his wife are avid travelers as Riamae is originally from the Philippines. Ryan describes himself as a major foodie enjoying new restaurants around the cities whenever possible. Ryan enjoys playing golf and poker. He is a sports fan especially when the Vikings and Timberwolves are playing. In his formative years, Ryan tended bar at various places including Mystic Lake and Running Aces in Columbus, MN where he met his wife.  

We’re glad to have Ryan part of the Secured Retirement family too!