If you would like to read more of this article, please download the PDF via the link above.
Tax insights Helpful Tips for Year-End Tax Planning and Charitable Giving
Oct 18, 2019
- The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, significantly affects income tax and philanthropic planning, and its tax law changes factor prominently in our analysis.
- While the suspension of certain popular deductions have mostly negative effects, there are useful planning opportunities to explore.
- TCJA included a new deduction of up to 20% for individuals for flow-through business income, as well as a new incentive program for investing in economically distressed areas.
- In this Wealth Planning Insights, we provide a brief summary of the current tax law and its broader implications as well as some helpful tips for your tax and philanthropic planning as we head into year-end.