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As far as I know, Trump’s tax increases don’t include any new limitations on charitable deductions, they’re still limited to 50% of AGI. Trump did increase the
by mercutio2 8y ago
As far as I know, Trump’s tax increases don’t include any new limitations on charitable deductions, they’re still limited to 50% of AGI.
Trump did increase the standard deduction if you’re not itemizing, and dramatically curtailed the state and local tax deductions, so many fewer people will be itemizing, and thus in effect reduced the incentive to donate for those people who’s best tax strategy is to take the standard deduction.
- usaar333 8y agoAnd actually increased the draw of dafs, since now you want to batch years of donations into a single year to get past the standard deduction.