Planning Briefs
Sidestepping New Limits On Charitable Donations
Published Tuesday, September 18, 2018 at: 7:00 AM EDT
If you think you're no longer allowed to deduct items like charitable donations on your income tax return, think again.The new tax law doubled the standard deduction, slashing the number of Americans eligible to itemize deductions from 37 million to 16 million. However, if you are among those who will lose your ability to deduct charitable donations, there is a simple strategy for managing the new limits on charitable giving, and it enables you to continue doing good while doing well for yourself by reducing your tax bill. The strategy is simple: bunch a few years of donations into a single...
© 2024 Advisor Products Inc. All Rights Reserved.
More articles
- The Truth About U.S. GDP Growth
- Another Member Of Music Royalty Dies With No Will
- Paying Off A Mortgage And The New Tax Code
- Key Facts On Deducting Medical Expenses
- Reduce Your Widow's Tax Bill Materially Annually
- Ten Things About 10-Year U.S. Stock Market Performance
- Qualifying For The New Business Owner Tax Break
- Your Alma Mater Or Your Family?
- This Is Not Your Parents' Interest Rate Cycle
- If Family Is Wealth, Then Planning Is Immortality
- Life Is Fragile, So, Please, Value Each Day As Priceless
- Everything You've Learned About Interest Rates May Be Wrong
- This First Year Under The New Law Requires Planning
- 10 Years After The Great Recession
- Commodities Stink But Serve A Purpose