A Tax-Time Way to Help Kitsap Humane Society

February 27, 2020

If you are 70½ years old or older, you can help Kitsap Humane Society and receive tax benefits in return.

You can give any amount up to $100,000 per year from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.


Why Consider This Gift?
  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you are at least 72 years old and have not yet taken your required minimum distribution for the year, your gift can satisfy all or part of that requirement.
  • Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security subject to tax.

Ask your IRA administrator about making a direct transfer to KHS or have the administrator send a check from your account to us. (To be tax-free, the donation must go directly from your account to KHS without passing through your hands.)

Have more questions? Contact Paula Rimmer at 360-692-6977 X 1251 or primmer@kitsap-humane.org for more information regarding making a gift from your IRA.