People that are 70 1/2 years or older have until Dec. 31 to make charitable donations of up to $100,000 directly from their I.R.A.'s, reports the New York Times.
Just as background, an I.R.A. is an account in which a person may deposit up to a stipulated amount each year and that is not taxable until retirement or early withdrawal.
So what do you stand to gain from giving a gift directly from an I.R.A. as opposed to taking the money out and then gifting? Well, the answer is that if you take money out of the I.R.A. you could end up in a higher-tax bracket because it looks like you have a higher income. By giving a gift directly from the I.R.A. (which is a sort of tax-free haven) you would be able to give gifts much larger than those you are otherwise able to give.