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Atlanta Estate Planning, Wills & Probate | Siedentopf Law

Category: Charitable Bequest

Charitable Bequests Under The New Tax Act

Charitable Bequests Under The New Tax Act

The Tax Cuts and Jobs Act, a sweeping overhaul of the U.S. tax code, took effect at the beginning of 2018. The Act can potentially impact the manner in which individuals and families donate funds to their favorite charitable organizations.The Tax Cuts and Jobs Act did not eliminate charitable giving bequests (as it did with other tax exemptions), but it did change the rules of this tax and estate planning tool. Under the new guidelines, the standard tax deduction has increased from $6,350 […]

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