For the next Virtual Documentary Night, we voted to discuss the documentary, Taken For A Ride.  With investigative journalism, vintage archival footage and candid interviews, Taken for a Ride presents a revealing history of our cities in the 20th century and the events that caused the cultural shift from mass transit to individual car use. Here is a link to where you can watch it for free. https://youtu.be/p-I8GDklsN4 This will be on Sunday, December 12 at 7 pm eastern standard time.
NWUUC Book Groupies
The NWUUC Book Groupies will be reading The Book of Longings by Sue Monk Kidd for our Tuesday, January 11, 7 pm meeting. Author Kidd is best known for her novels The Secret Life of Bees and The Invention of Winds, both novels set in her own locale, our South. For this latest historical novel, she did extensive research on the lives of women in the first century during New Testament times in those lands and imagines the possibility that her very human Jesus had a wife, as would have been expected by his Jewish faith. This novel is quite an achievement and will make for a good discussion.
If you would like a copy of this book from our NWUUC Bellwether Books store please leave Penny Raney a message at 770 551 8817 and we will get a copy to you. Also let Penny know if you want to join the meeting as we will be waiting to see where it is safe to meet in January, zoom or room.
Circle Dinner
There will not be a Circle Dinner in December but we will resume in January. If you have already attended a dinner in the past you are encouraged to consider HOSTING a dinner. No need to have a formal dining room, for even though we aim to have 8 people at each dinner, if you can accommodate 6 that would work. A traditional sitting-around-the-table isn’t necessary either. There could be card tables, or TV trays, or trays on laps …there are many forms a dinner group could take. Other options would be to have a Saturday or Sunday luncheon for those who prefer not to drive at night! There are many possibilities for gatherings for food, fun and fellowship in a small, intimate group. And of course, it will be safe since all who attend must be covid vaccinated.
We’ll need three hosts in January, based on attendance so far.  Those of us who have hosted find it to be a satisfying experience. Please contact Judy McKinley if you are interested in hosting, or just offer to host when the invitations are sent out!
Some scenes from our successful November dinners…
 
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Do you want to take advantage of a tax break for 2021? Consider making an extra pledge payment before the end of the year—or fulfilling your 21-22 pledge if that works for you. Â
Larry Wallis has provided us with some end-of-year tax suggestions that he obtained from his financial planning group. Â
As always, the Board of Trustees appreciate your continued financial support of our Home in the Woods.
By donating from your IRA directly to a qualifying Charitable Organization, you may reduce your income taxes and increase the net amount to the Charitable Organization. This direct transfer is called a Qualified Charitable Distribution.
A Qualified Charitable Distribution (QCD) is generally a nontaxable distribution from your IRA (other than a SEP or SIMPLE IRA) paid by your IRA Trustee directly to a Charitable Organization eligible to receive tax-deductible contributions. The funds must not pass through your hands, and the maximum amount for QCDs is $100,000 annually.
Reference:  www.irs.gov, pub 590-B (2020), topic: Qualified Charitable Distributions
What are the benefits of a QCD?
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The QCD amount can count toward satisfying your Required Minimum Distribution.
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You do not pay income tax on the QCD amount because the distribution is not taxable income to you.
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Because the gift amount does not increase your taxable income, it will not affect Social Security benefits and will not increase subsequent Medicare premiums.
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The money that you would ordinarily pay to the IRS in income tax goes instead to the charitable organization.
Who is eligible?
IRA owners who are age 70 ½ or older at the end of 2021 are eligible to use a QCD.
The CARES ACT allows you to use a QCD upon reaching age 70 ½ (or older) by the end of 2021, even though it pushed the starting age for RMD’s out to age 72.
This definition is from IRS pub 590B for tax year 2020, as updated May 13, 2021.
Example calculation
Assume (for simplicity of calculation) you are in the 25% tax bracket and your RMD for this year is $10,000 or more.
If you made an ordinary distribution of $10,000 to yourself from the IRA, you would pay $2,500 (or less, depending on other deductions) in income tax, leaving $7,500 (or more) to donate to a Charitable Organization.
On the other hand, if a $10,000 Qualified Charitable Distribution were made directly to the charitable organization, these would apply:
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$10,000 of your RMD requirement for the current year would be satisfied.
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All $10,000 would go to the charitable organization.
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You would pay no income tax on the $10,000.
Contrast a Charitable Contribution from a non-IRA (after-tax) account
For charitable donations from a non-IRA account, consider donating highly appreciated stocks. The actual cost to you is the original purchase price of the stocks. You would avoid paying capital gains tax on the increase in value, and the charity would liquidate the stocks at current market value.
Disclaimer: You should consult your IRA Trustee or Tax Accountant before acting on these tips.
