The Tax Cuts and Jobs Act has changed many charitable gifting strategies. Researchers believe that there will be a decrease in charitable gifting in the coming years due to the new standard deduction.
There are, however, tax beneficial ways for those over 70 ½ to benefit their favorite charity and still obtain tax relief. Qualified charitable distributions from an IRA are still allowed and can provide a tax break to some.
Take a look at the attached article, “How to Get Tax Savings on Charitable Contributions” for more information.
After reading the article attached below, head down to the bottom of this email and schedule your complimentary 20-minute phone call to discuss your financial needs (or anything else you had in mind). As every tax situation is different, please feel free to contact me regarding your specific situation. I would be more than happy to speak with you and review your options.
Working with a financial advisor like Taylor Financial Group, LLC, can help make sure you and your family are adequately prepared for your financial needs and costs throughout your lives.