For OCHS Retirees, a Smarter Way to Give

By Nathan McNulty, MBA, CFP®,Financial Planner

The alumni of Owensboro Catholic High School are very generous when it comes to financial support. That’s a testament to how the school creates a community with a lasting impact on its graduating students. I left as a member of the class of 2000, yet still feel a close connection and affinity for the community at OCHS more than two decades later. When it comes to charitable contributions, it’s always important to optimize that giving within the construct of your annual tax planning. One strategy for charitable giving that is available for retirees but often overlooked is the Qualified Charitable Distribution (QCD).

Qualified Charitable Distributions (QCDs) are not new. They have been around since 2006, but were made more valuable with Trump’s signature tax reform in 2017. By nearly doubling the standard deduction for tax years 2018-2025, that tax reform has resulted in far fewer tax filers itemizing deductions.