Donation timing with U.S. tax reform

post by Andy_Schultz · 2017-12-09T21:49:04.224Z · score: 5 (5 votes) · EA · GW · Legacy · None comments

It looks likely that tax reform will be enacted in the U.S. for the 2018 tax year and beyond. This would reduce the amount of tax deductions many donors would receive from charitable donations, due to being in a lower tax bracket, having a higher standard deduction, or both.

If this is relevant to your situation, and if you can afford it, you may want to consider moving some of your planned future donations into the remaining weeks of 2017. Making donations this year may save you more money on taxes than if you donated in future years.

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