If you’re age 70½ or older and have more IRA money than you need, it may be time to think beyond your portfolio and start thinking philanthropically. Required minimum distributions (RMDs) begin at age 73, and if you’re not strategic, they could inflate your taxable income, trigger higher Medicare premiums, or impact your Social Security benefits.
With some intentional planning, your IRA can become a powerful tool for giving. Here are three smart strategies to consider:
1. Make a Qualified Charitable Distribution (QCD) During Your Lifetime
April 23, 2025 | Tax Planning
If you’re age 70½ or older and have more IRA money than you need, it may be time to think beyond your portfolio and start thinking philanthropically. Required minimum ...
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April 21, 2025 | Estate planning
Why failing to plan now could cost your loved ones later. Many people assume estate planning is only necessary for the wealthy or elderly—but in truth, everyone needs one. Without an estate plan, your ...
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April 16, 2025 | Financial Planning
For many entrepreneurs, building a business is a decades-long journey of wealth creation, culminating in a lucrative exit. Yet, as the Yale School of Management case study “What’s ...
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April 14, 2025 | Estate planning
Protecting your wealth is just as important as growing it. Many high-net-worth individuals and business owners focus on investment growth, tax efficiency, and estate planning but overlook asset protection—a critical ...
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April 9, 2025 | Business Succession Planning
Selling a business is often celebrated as the pinnacle of entrepreneurial success—a moment of triumph after years of hard work. Yet, as the Yale School of Management case study “What’s Next: The Entrepreneur’s Epilogue and the Paradox of Success” reveals, the reality post-exit can be far more complex. Entrepreneurs frequently experience an emotional arc that swings from euphoria ...
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April 7, 2025 | Financial Planning
At the end of the first quarter of 2025, the global financial landscape continues to present both challenges and opportunities for investors. With recent market volatility and economic uncertainties, the importance of a well-diversified portfolio has never been more apparent. At Omni 360 ...
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April 2, 2025 | Estate planning
Family trust disputes can tear apart relationships and erode the wealth you’ve worked so hard to build. At Omni 360 Advisors and Omni Legacy Law, we understand that ...
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April 1, 2025 | accounting software
Facing an audit is every business owner’s nightmare—but with the right mix of proactive accounting and legal protections, you can reduce your risks and protect ...
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March 26, 2025 | Tax Planning
When your tax strategy runs out of steam, it’s time for a smarter, longer-term solution. When Tax Strategies Stall Over the last decade, direct indexing has become a go-to strategy for building wealth in a tax-efficient way—harvesting losses to offset gains while mirroring a broad market index. ...
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March 25, 2025 | CTA Compliance Service
There’s good news on the compliance front—FinCEN has issued an important interim final rule that significantly reduces the burden on many U.S. businesses and individuals. ...
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