Due to changes in the Tax Cuts and Jobs Act, the Washington, D.C.-based Tax Policy Center estimates that only 9% of taxpayers will now receive a tax deduction for charitable contributions. The Center has published a chartbook titled “Tax Incentives for Charitable Contributions.” It evaluates the implications of alternative income tax incentives for charitable deductions “together with several alternatives for tax deductions that are more universally available.” The authors consider current tax law and four alternatives that “provide universal tax benefit” for charitable deductions. Read the chartbook here: https://tpc.io/2KAOclY Visit our website for more information! www.mjscpa.com/news/
