When it comes to giving, there’s good news and bad news. The good news? Giving was up 5% in 2017, with Americans giving $410 billion to charities, according to Giving USA’s latest report.
The potentially bad news? The impact of tax reform is not yet known. With the standard deduction doubling from $12,000 to $24,000 for joint filers, many families may no longer be able to write off their charitable deductions. Will it matter? Will they give less? The jury is out. A possible bellwether could be that giving declined 2.4% in the first three months of 2018; this could be a fluke, or it could signal a downward trend.
What can you do to stay prepared and maximize giving? Read the full article on Forbes