The 2017 tax law changes have made certain charitable giving techniques more valuable for you. One of these techniques is to give charitable contributions directly from an Individual Retirement Account (IRA).
These contributions count toward your required minimum distribution (the amount you are required to withdraw from your IRA in a year).
Here is how it can work: Assume Fred and Pearl are a married couple living in New Jersey. They are both 75 years old. They have $120,000 in distributions from IRAs, $20,000 of taxable interest income, and $85,000 of tax-exempt interest income. Their property taxes are $25,000 (of which $10,000 is deductible) and they contribute $16,000 to charity, the bulk to their alma mater.