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A Big Tax Break for Charitable Giving Disappeared. Here’s What You Can Still Do

January 26, 2019

From the Money website

The 2017 Tax Cuts and Jobs Act may have made it harder for many taxpayers to write-off their charitable contributions, but there are ways to get more bang from your charitable buck in this new environment.

Your approach will depend in part on your age.

In order to write-off qualifying charitable contributions, you need to itemize your deductions, rather than take the standard deduction — that’s the fixed chunk of money that the IRS allows you to deduct from your income before you pay taxes on the remainder. Taxpayers generally itemize if their sum of the deductions — including expenses like mortgage interest, state and local taxes and charitable spending — exceeds the amount they are allowed to write off by taking the standard deduction.

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