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THE ABCs of RMDs: Charitable Donation Edition

If you’re over 70, you’re probably aware that the IRS now insists that you take Required Minimum Distributions from your IRAs. While being “forced” to receive money may not seem like a bad thing, these RMDs can drive up your tax bill even if you choose to donate the funds to charity. Fear not! Melissa Heck is here with a recent change to the tax code which will allow you to sidestep those unwanted contributions to Uncle Sam’s favorite charity: himself.