Sponsored by Wilmington Trust
• Reviewing the changes to the law from the lens of tax-efficient giving, it’s clear that the 2017 Tax Cuts and Jobs Act created some philanthropic winners and losers for the next few years.
• With the elimination of the phase-out of itemized deductions, donors who itemize can take advantage of the full amount of their charitable gifts, subject to AGI limits.
• For donors who can no longer itemize, there are several good strategies to mitigate the loss of the deduction, including the use of IRAs, donor advised funds, and gifts of appreciated property.
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