Listen "How Church Contribution Changes As We Age | Ep 2"
Episode Synopsis
When it comes to church contribution, here are 3 problems that QCDs can help solve:
Prevents unnecessary taxation on Social Security benefits.
Prevents Medicare premium increases for Part B and D.
Allows you to take advantage of the standard deduction.
Formula for Social Security taxation: https://www.ssa.gov/benefits/retirement/planner/taxes.html#:~:text=*%20Your%20adjusted%20gross%20income%0A%2B%20Nontaxable%20interest%0A%2B%20%C2%BD%20of%20your%20Social%20Security%20benefits%0A%3D%20Your%20%22combined%20income%22
Prevents unnecessary taxation on Social Security benefits.
Prevents Medicare premium increases for Part B and D.
Allows you to take advantage of the standard deduction.
Formula for Social Security taxation: https://www.ssa.gov/benefits/retirement/planner/taxes.html#:~:text=*%20Your%20adjusted%20gross%20income%0A%2B%20Nontaxable%20interest%0A%2B%20%C2%BD%20of%20your%20Social%20Security%20benefits%0A%3D%20Your%20%22combined%20income%22
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