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Pete Hegseth says US-China ties are ‘better than in years' Financial TimesPete Hegseth tells Asian allies to boost defence spend to counter China buildup NBC NewsHegseth tones down warnings about China: "We respect their ambitions," but "position hasn't changed on Taiwan" CBS NewsWhat Hegseth's comments at Shangri-La Dialogue say about US foreign policy Al Jazeera
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ICE Agents to Leave Site of Volatile Protests at Detention Center The New York TimesFlashpoints and fury: Inside protests at a New Jersey ICE facility CNNProtests outside New Jersey ICE facility escalate overnight NewsNationSherrill tries to ‘lower the temperature' at immigration detention facility Politico
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As baby boomers begin passing down trillions in assets, advisers who specialize in navigating the process — and the emotions around it — have never been busier.
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Pentagon chief still presses allies to boost defence spending to counter ‘military build-up' by Beijing
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Judge probes whether deal creating Trump's $1.8 billion fund constitutes fraud The Washington PostJudge Reopens Trump's Lawsuit Demanding $10 Billion From IRS The New York TimesJudge orders Trump to answer questions about whether settlement that created "anti-weaponization fund" was "fraud" CBS NewsEx-judges mount bid to upend ‘unprecedentedly fraudulent' Trump ‘anti-weaponization' fund CNNTrump ordered to address "grievou
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Pentagon chief says U.S. ready to restart strikes on Iran if no deal ReutersUS ‘more than capable' of resuming war against Iran, Pete Hegseth says The GuardianTrump will remain ‘patient' in pursuit of a deal with Iran, says Hegseth Financial TimesIran war: US says ready to resume war if no deal reached DW.com
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Why Dell Stock Skyrocketed to a New All-Time High Today Yahoo FinanceBillionaire Michael Dell's Fortune Swells By $34 Billion On Dell's Best Day Ever—Now Richer Than Zuckerberg ForbesDell stock soars as AI boom boosts demand in blowout quarter Yahoo FinanceJim Cramer says Dell's blowout quarter sets up a crucial week for
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Plenty of retirees like to give back to their communities through charitable donations, but questions often arise over the best way to do that.
What approach is efficient, provides the tax benefits you're after, and also is advantageous for the charity that's on the receiving end?
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One possibility is a qualified charitable distribution (QCD), a tax-savvy way to reduce your taxable income and maximize your donations whether you itemize deductions on your tax return or not. An added bonus is that the benefits can be large for both the donor and the charity.
Here's How QCDs Work
A QCD is a distribution from an IRA that is paid directly from that retirement account to a qualified charity. QCDs lower your adjusted gross income (AGI) and therefore lower your tax bill. They can also offset required minimum distributions (RMDs), those withdrawals you must take from your IRA each year once you reach age 72. An RMD adds to your income, raising the amount of taxes you pay, but a QCD is excluded from your income. So, for example, if you withdrew $50,000 from your IRA as an RMD, you would pay taxes on that money. But if that same $50,000 was used as a QCD instead, you avoid the taxes while helping a charity at the same time.
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Taxpayers can benefit from QCDs even when they take the standard deduction and do not itemize their deductions. Meanwhile, even though a QCD doesn't count as an itemized deduction, tax
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