Year-End Tax Planning: Maximizing the Tax Benefits of Charitable Contributions Under the TCJA

Many charities feared that the 2017 Tax Cuts and Jobs Act (TCJA) would have an adverse impact on charitable giving during 2018 and after. The significant increase to the standard deduction available to most individuals means that more taxpayers do not itemize their deductions, including charitable contributions. In effect, “losing” the charitable tax deduction and …