Tag Archives: Charitable

The Good and Bad News on Charitable Deductions under the 2017 Act

The good news first:a. The 50% of adjusted AGI limitation maximum deduction amounts in any one year is increased to 60% as to cash contributions.b. The Section 68 3% “Pease limitation” phase-out of itemized deductions is out of the law … Continue reading

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U.S. Charitable Giving Tops $400 Billion

Charitable giving, comprised of giving to charities by individuals, bequeaths, foundations, and corporations, rose to pass $400 billion in 2017 according to a Giving USA Foundations prepared by Indiana University Lilly Family School of Philanthropy. Both Mark Zuckerberg and Michael… … Continue reading

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IRS Warns on State Charitable Deduction Schemes to Allow Property Taxes Deduction

The Tax Cuts and Jobs Act of 2017 limits the Code §164 deduction of individuals for state and local taxes to $10,000 per year ($5,000 for married individuals filing a separate return). Thus, many taxpayers in states with high state … Continue reading

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What Charitable Giving Basics Should I Know?

Giving to charity can benefit you as well as the organization. Read more detail on Recent Estate Planning posts –

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Will the Supreme Court Take a Charitable View of Cy Pres Settlements?

On April 30, the Supreme Court granted certiorari in Frank v. Gaos, No. 17-961 to review the fairness of the ever-increasing use of cy pres remedies in class action settlements. Cy pres remedies are often used to fund charitable or … Continue reading

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