DECEMBER 2017

The impact of tax reform on the charitable community cannot yet be known, but the prospects are not good. The legislation doubles the standard deduction which will result in fewer people itemizing when they file their tax returns. Those who itemize are far more likely to make a charitable Contribution because there is a savings as a result of the deduction the government gives to the final tax bill. The result is that there is less of an incentive to make charitable contributions, at least from the standpoint of obtaining tax-savings.

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