Group Gains Insights into Tools to Trigger Tax Benefits

Participants in our Lunch & Learn gained knowledge of options to enjoy tax benefits while making a gift to their favorite nonprofits. CPA Mike Fischer, a long-time Simi Valley expert in all things taxes, covered both gifts from IRAs and donor advised funds.

IRA account holders are required to take a required minimum distribution when they hit a certain age. Rather than accepting the funds, an individual can direct them a favorite charity and avoid negative tax consequences, such as triggering increases in Medicare premiums. A donor advised fund is an investment tool that allows individuals to make deposits and then recommend disbursements — or "grants" — to their favorite charities using the fund's money. 

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