Do you have to receive required minimum distributions (aka RMDs) from your IRA account each year? If so and if you are charitably inclined, there is a very useful strategy for sending those distributions directly to a favored charity (or charities). We have regularly encouraged this strategy for those affected clients for tax savings capabilities. However, there is another reason for doing so. If your income is high enough, you can be liable for paying higher Medicare premiums for your health care. This strategy could help reduce this increased cost for Medicare. Mary Beth Franklin has written an excellent article in the Investment News trade journal. Click here to access that article.
Blessings to you!