The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article by my friend and colleague Steve Hartness examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release the funds to charities in the future.
Latest posts by Timothy P. Murphy (see all)
- Income Tax Basis - October 17, 2019
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- Use Trust Protectors for Added Protection and Flexibility - October 13, 2019