Tax Reform and Charitable Giving
For many taxpayers, the new tax law creates an opportunity in the form of increased disposable income. Here are a few of the changes that may affect you.
- New Income Tax Brackets: Many taxpayers will find themselves with more disposable income due to lower brackets. They may now have an opportunity to give more to the charitable organizations they care about.
- Cash Contributions: The limit for cash contributions is now 60 percent of AGI, up from 50. This may encourage higher income donors to increase their cash gifts.
- Standard Deduction: Nearly doubles the standard deduction.
2018 2017 Single $12,000 $6,350 Heads of Household $18,000 $9,350 Married Filing Jointly $24,000 $12,700
- Estate Tax Exemption: Doubles the estate tax deduction
2018 2017 Individuals $11.18 million $5.49 million Married Couples $22.36 million $10.98 million
The exemption will increase with inflation.
NOTE: On Dec. 31, 2025, a majority of individual tax provisions expire and may go back to the rates of 2017.
Talk With Your Tax Professional
Please consult with your tax or financial advisors to determine the best charitable giving strategies for you.
We Can Help
We are so grateful for your generosity. Please contact Isabel de la Puente at firstname.lastname@example.org or 202-319-6914 or Leo Gallegos at email@example.com or 202-319-6926, to discuss how your gift can help further our mission.