Making Your Charitable Estate Plan Great Again

Carol G. Kroch |
Tax Reform
Charitable Estate Plan NC.jpg

An overview of an important presentation at the 53rd Annual Heckerling Institute on tax saving strategies when making charitable gifts.As a result of the 2017 Tax Cuts and Jobs Act, the estimated number of itemizers has dropped from 37 million to 16 million.This is largely due to the $10,000 cap on the state and local tax deduction and the increasedstandard deduction.

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The Impact of Tax Reform on Charitable Giving

Carol G. Kroch |
Tax Reform
Tax Reform and Philanthropy NC.jpg

A donor’s guide to the new law and how it affects charitable giving. Reviewing the changes to the law from the lens of tax-efficient giving, it’s clear that the 2017 Tax Cuts and Jobs Act created some philanthropic winners and losers for the next few years.With the elimination of the phase-out of itemized deductions, donors who itemize can take advantage of the full amount of their charitable gifts, subject to AGI limits.

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