Tax Reform and Charitable Giving
You may wonder about the impact of The Tax Cuts and Jobs Act of 2017 on charitable giving. Charitable giving remains beneficial for many tax payers, including many ASTRO members and friends. The new law keeps the charitable giving deduction in place for those who continue to itemize deductions. Due to the expanded standard deduction, some of ASTRO’s members and friends may no longer be able to itemize their deductions under the new tax law. However, with maximums on some deductions, such as mortgage interest, charitable giving can be the difference in being able to itemize or not.