Dec 17, 2021
Liz Weston, a personal finance writer for Nerd Wallet, says you can gain … or lose … as much as $100,000, just by the way you claim Social Security! And she says you never want to make your claim based on something a Social Security employee tells you. But if we can’t rely on someone who works there to give us good advice, who can we turn to?
If you own an IRA - and are at least 72 years old – you can donate to charity and get a tax break. Ed Slott explains to Morningstar how you can use a “qualified charitable donation” or QCD to donate all, or a portion of your required minimum distribution to charity. Steve explains how doing it this way is better than writing a deduction off your taxes (it reduces your taxable income). Is there a narrow window for this benefit? (only for “MEGA” QCDs).