As seen in Philadelphia Business Journal
As the end of the year approaches, those who are 70 1/2 year old and above are faced with taking the required minimum distributions (RMD) from their IRA accounts, thereby increasing their total income tax liabilities. However, there is a way to avoid including the RMD in your income, while still satisfying the RMD requirement.
Last December, Congress permanently extended the Qualified Charitable Distribution or QCD. This allows retirees to transfer as much as $100,000 from their IRA directly to charity and have it count towards their RMD. Keeping the RMD income off your tax return may yield valuable tax savings. For more information, please contact Friedman LLP.