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Turning unwanted retirement withdrawals into charitable tax savings

Original: The $111,000 Tax Move: How to Turn Unwanted RMDs Into Intentional Charitable Giving

Financial writer at TheStreet highlights a strategy for retirees facing required minimum distributions they do not need: making qualified charitable distributions directly from an IRA. By directing up to roughly $111,000 of RMDs to charity, savers can satisfy the withdrawal rule while keeping that income off their tax return, turning an unwanted tax bill into intentional giving.

Why now: Retirees with large IRAs are looking for legal ways to reduce taxes on mandatory withdrawals, making charitable distribution strategies timely

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Evidence

• The $111,000 Tax Move: How to Turn Unwanted RMDs Into Intentional Charitable Giving · thestreet.com

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