15. Make Charitable Contributions Directly Through Your IRA

Required Minimum Distributions aren’t always easy to deal with and in fact, they could become a hindrance to your savings plans. That’s because due to them, once you turn 70 ½ you might be subject to higher income taxes.

But don’t worry, there is a way to avoid this while also giving back to your community. If you transfer your Required Minimum Distributions from your account as a Qualified Charitable Distribution, you’ll be satisfying your RDM without counting it as taxable income.

Another plus for this approach is the fact that you’ll also benefit from bracket creep with when it comes to Medicare B and D charges.