If you’ve reached the age of 70 and started living off your nest egg, then you know the IRS requires you to withdraw a certain amount of money from your Individual Retirement Accounts (IRAs) each year. The term used for this distribution is called a Required Minimum Distribution or RMD. So basically we work our whole life, place money in our retirement accounts, never pay taxes on that investment (there are exceptions to this), and now Uncle Sam wants his fair share for letting you save for the future. The IRS says, “Look, we want to get some money from you before you die.” So now you must withdraw a certain percentage out and pay taxes on it. However, did you know that using your RMD for charity could save you on your taxes?