Did you know you can support the Cutaneous Lymphoma Foundation in achieving its vision of a life free of cutaneous lymphoma and lower your tax bill with an IRA charitable rollover?

If you have an IRA, or certain other types of retirement plans, and are at least 70 ½ years old, you can reduce your income taxes (even if you don’t itemize) with a qualified charitable distribution (QCD) to the CL Foundation from your IRA. The donation can count as part of your required minimum distribution for the year, thereby reducing your taxable income.

For example, a charitable-minded account owner who must take out $25,000, can divert part or all of it to his or her favorite charity, such as the CL Foundation. While the gift can't be claimed as a charitable deduction, the payout doesn't count as taxable income either.

A QCD doesn't raise adjusted gross income in a way that could trigger higher income taxes, Medicare premiums, or taxes on Social Security benefits. Both Medicare Part B and Part D payments rise with income, so minimizing adjusted gross income can be important. A QCD is simple to make, however, there are some technical rules in that it cannot exceed $100,000, must be made directly to the Cutaneous Lymphoma Foundation by your IRA custodian, and must be completed by December 31.