Within the wake of the Tax Cuts and Jobs Act of 2017, notably due to the elevated standardized deduction quantity and decrease limits on many itemized deductions, it is a lot tougher for purchasers to proceed below the previous paradigm of merely slicing a verify to charity after which claiming a deduction.
Nonetheless, purchasers over age 70 half of are in luck, as they'll make the most of a way know as a certified charitable distribution to make donations to charities instantly out of their IRAs.
Marty Shenkman sits down with Professor Chris Hoyt to clarify how this system works and what your purchasers stand to achieve from contemplating its use.