Using IRA Distributions for Charitable Deductions – It’s Not Too Late Yet!

Dec 16, 2013 | Prescott Accounting

Have you considered using the funds in your individual retirement account (IRA) to make a charitable contribution?  If so, it’s a good idea to follow up on your plans sooner rather than later.  Under the American Taxpayer Relief Act of 2012, individuals who are age 70 1/2 or older can make a qualified charitable distribution from an IRA directly to a charity.  You can exclude donations up to $100,000 of an otherwise taxable distribution from your gross income and count them toward the current tax year’s  required minimum IRA distributions.


The rules only apply to distributions made in 2012 and 2013, so you need to act now.  Contact us with any questions you may have on this type of charitable distribution.

Our Services

Specialized Company

 We specialize in audit, accounting and taxes for individuals, companies, non-profit entities, and homeowner's associations.

Dependable Services

We are known for a straightforward personal approach and customized solutions to meet the evolving issues clients face.

Licensed & Insured

AICPA Members
Certified Pro-Advisor
8 CPAs and 2 EAs on staff

Reputable Company

We are part of the successor to a long established local accounting firm which has served its clients in Prescott for more than 35 years.

We service all of Yavapai County including Prescott, Prescott Valley, Dewey, Chino Valley, Verde Valley, Flagstaff and Sedona.