The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release the funds to charities in the future.
No Charitable Deduction in 2018?
Latest posts by Raymond German, Estate Planning Attorney (see all)
- Do I Need a Memorandum of Intent for My Special Needs Trust? - January 21, 2021
- Can a Trust Be Contested? - January 19, 2021
- 5 Steps for Finding the Right Long-Term Care Facility - January 14, 2021