Maybe Every Good Turn Deserves A Tax Break

Marie Sapirie | Forbes

“The result of those changes is a 4 percent dip in total charitable giving, and, ‘for middle- to upper-middle-income tax filers, the doubling of the standard deduction is responsible for nearly all the change in giving,’ Alex Brill and Derrick Choe, both of the American Enterprise Institute, explained in a 2018 analysis. The lower marginal rates for high-income taxpayers enacted in the TCJA likely will largely decrease charitable giving by that group as well. The impact on the number of taxpayers who itemize their deductions for 2019 should be fairly dramatic.”

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