Why You Should Make Charitable Donations from Your RMD

Many of you who have to take Required Minimum Distributions (RMDs) should consider making your charitable donations directly from your IRA. For the past several years you have been able to do this, but it's never been a huge tax benefit. That was, until now. Now that the 2018 tax year standard deduction has been increased to $12,000 for single filers and $24,000 for marrieds, many of you will find that you are not itemizing deductions next year. As such, your charitable donations will not benefit you. If you pay the charitable donations directly from your IRA: 1. You reduce your taxable IRA withdrawals. 2. Distributions still qualify as your RMD. 3. You still take the standard deduction. 4