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 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.
- IRS Announces Gift and Estate Tax Increases for 2024 - November 23, 2023
- Schedule an Estate Plan Review with the New Year Approaching - November 7, 2023
- Estate Administration: Navigating the Critical First Steps - October 19, 2023