tax law changes

How 2018 Tax Law Changes Affect Charitable Gifting

by St. John & Assoc on Jul 6, 2018

gifting, charitable giving, charitable gifting, 2018 tax law changes, tax law changes, deduction amount, qualified charitable distribution, required minimum distribution, earned income, IRA to ROTH, tax free contribution

Many taxpayers may not yet understand that the 2018 tax regulation changes include an increase in both the standard deduction amount to $24,000 for joint returns, and $12,000 for single returns. These amounts may exceed the amount of itemized deductions for most taxpayers, which can include their medical expenses, interest expenses, charitable contributions, and other taxes.

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