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The number of donor-advised fund accounts has tripled in the past four years and grown approximately 150 percent since the passage of the Tax Cuts and Jobs Act at the end of 2017, according to a new report.
November 12 -
Approximately 50 percent of taxpayers made at least one change in their charitable giving strategy in response to the Tax Cuts and Jobs Act, according to a new survey.
November 7 -
The Senate rejected a Democratic proposal that sought to give states leeway to help residents avoid the $10,000 limit on deductions for state and local tax payments.
October 23 -
Democrats are staging a long-shot attempt to chip away at the Republican tax law’s limit on state and local tax deductions, finding few GOP allies despite potential benefit for Republican-led states.
October 23 -
Americans gave less money to charities last year partly because the Republican tax law changes made many people ineligible for tax breaks that can inspire donations.
June 18 -
States like New York and New Jersey that hoped to help residents circumvent the new $10,000 limit on state and local taxes won't be able to do so.
June 11 -
The Tax Court has held that the generous tips and gifts that a Catholic evangelist considered to be part of his efforts to spread the gospel were not deductible charitable contributions.
June 5 -
As more presidential candidates release their tax returns, a picture of Democrats’ charitable giving is beginning to emerge. For the most part, they’re not as generous as most Americans.
April 26 -
The Democratic presidential candidate made a mistake on deducting medical expenses in 2013 and 2014.
April 16 -
Make sure clients understand all the consequences, tax-related and otherwise, before taking action.
December 18OC Consulting Group