The Benefits of Donating IRA Distributions to Charity

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If you’ve accumulated a significant amount of money in traditional and rollover individual retirement accounts (IRAs), you may want to consider tax-efficient strategies that can reduce your tax burden and benefit your favored charities. IRAs, while an effective tool for retirement savings, may also create tax challenges when you start taking distributions, which are subject to income tax. So how can you turn your IRA distributions into charitable donations and reduce your tax burden?

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