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What you should know: One tax-friendly approach is the qualified charitable distribution (QCD) strategy, which allows you to satisfy your charitable giving goals while reducing taxable income. By directing funds from an IRA to a qualified charity, you can count the donation toward your annual RMD without it being included in your income, provided you adhere to the QCD rules.

When leveraging the QCD workaround strategy, it’s also important to remember the "first dollars out" rule, which mandates that any initial IRA withdrawals count toward the RMD, potentially negating the tax benefits of a later QCD. Proper planning with a professional can help you avoid common pitfalls and maximize the benefits of this strategy.