Impact of Tax Reform on Charitable Giving
After your retirement, or if you’re retiring soon, you may be more inclined to make donations to charity. However, you may receive little or no tax benefit from your contribution, depending on whether you itemize deductions....more
Charitable giving helps to improve social well-being by supporting a broad range of areas including education, scientific research, alleviation of poverty, and others. To encourage donations, the federal government makes...more
A unique provision in the tax code allows certain transfers, made directly from a traditional IRA to a qualified charitable organization, to avoid taxation. Although this benefit of a qualified charitable distribution (QCD)...more
The new tax law makes it harder to claim a tax deduction for charitable contributions. While charitable giving should not be only about getting a tax break, if you want to reap a tax benefit from your contributions, there are...more