In Legal Terms: Charitable Contributions and Other Tax Changes
Update: 2018-11-27
Description
Professor Richard Gershon reminds us of the impact of the Tax Cuts and Jobs Act for 2018. Charitable contributions and other deductions, exemptions, and tax planning are discussed.
- Personal exemptions eliminated
- Standard Deduction almost doubled
- Child and Dependent tax credit increased
- Beware of Alternative Minimum Tax and Kiddie Tax
Tax Reform Basics for Individuals and Families https://www.irs.gov/pub/irs-pdf/p5307.pdf
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