Charitable Giving - A Tax Deduction is Just an Added Bonus

Thank you to Atty. Maureen O'Leary for presenting on the 2017 tax law changes and the impact the changes may have on charitable giving. Maureen highlighted the changes to the tax law, including the increased standard deduction and limits on the State and Local Tax deduction, and how less people may itemize their deductions (including charitable deductions) as a result.  Maureen additionally provided shared some strategies for maximizing tax deductions by using Qualified Charitable Distributions to satisfy IRA Required Minimum Distributions, or by "Bunching" to increase charitable giving in a single year and itemizing your deductions for that year, while taking the standard deduction for other years.  

 

Of course, no presentation from an attorney (or subsequent story written by an attorney) would be complete without the disclaimer that nothing in the presentation (or subsequent story about the presentation) should be construed as tax or legal advice nor does it create an attorney-client relationship.  You should consult your attorney and tax adviser regarding your personal situation.  If you missed the presentation but are interested in reading about it, please email me at sazinger@willmslaw and I would be happy to send you a copy of the Powerpoint.