SC Financial Group, LLC.
1417 116th Ave NE Suite 202 Bellevue, WA 98004
Fax: (425) 451-2888
Qualified charitable distributions (QCDs)
Qualified charitable distributions (QCDs) are distributions made directly from an IRA to a qualified charity. Such distributions may be excluded from income and count toward satisfying any required minimum distributions (RMDs) you would otherwise have to receive from your IRA. Individuals age 70½ and older could make up to $100,000 in QCDs for 2014. Absent new legislation, however, QCDs cannot be made for 2015.
Provisions that are extended through 2014 and then expire
• Increased Internal Revenue Code (IRC) Section 179 expense limits ($500,000 maximum amount decreases to $25,000 in 2015) and “bonus” depreciation provisions.
• The $250 above-the-line tax deduction for educator classroom expenses.
• The ability to deduct mortgage insurance premiums as qualified residence interest.
• The ability to deduct state and local sales tax in lieu of the itemized deduction for state and local income tax • The deduction for qualified higher education expenses.
Income Tax Key Numbers
1 Generally, qualifying dividends are dividends received by an individual shareholder from domestic and qualified foreign corporations
IMPORTANT DISCLOSURES Securities offered through Cadaret, Grant & Co, Inc., Member FINRA/SIPC. SC Financial Group, LLC and Cadaret, Grant & Co, Inc. are separate entities. Cadaret, Grant & Co, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.