IRA Example

If you are at least 72 years of age or older, you can take special advantage of federal tax law regarding your traditional IRA, 401(k) or 403(b), to make a gift to The Prep! Many alumni wisely use this now permanent law to their benefit by reducing their Adjusted Gross Income (AGI) which often reduces their cost for Medicare and prescription drug coverage. So you can help The Prep AND minimize your tax exposure from your tax deferred  distributions this year. 

The Qualified Charitable Distribution (QCD) is a terrific way to support The Prep and receive tax benefits in return. As you plan your required minimum distributions (RMD) for this year, consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction!

For more information about a Qualified Charitable Distribution (QCD) from your IRA, 401(k) or 403(b) to satisfy your Required Minimum Distribution (RMD) this year, please contact James Boyle, Director of Institutional Advancement at jboyle@shp.org or at (973) 736-6861. Please consult with your financial planner as well.