Charitable Giving Under the New Tax Law

The new tax law nearly doubles the standard deduction for individuals and families, simplifying the filing process for millions of Americans, but complicating giving strategies for many who have made a habit of deducting their charitable contributions. Indeed, an...

The Latest Rules on Charitable Donations

The IRS says that charitable contributions are deductible only if you itemize deductions and they are deductible only if you make contributions to qualified charitable organizations. The tax agency reminds us that contributions to individuals are never deductible. But...

IRS Releases Guidance on Not-for-profit Excise Taxes

The recently released IRS guidance on the excise taxes for nonprofit executives earning over $1 million still leaves many unanswered questions. The notice provides interim guidance on a provision of the Tax Cuts and Jobs Act that enforces an excise tax of 21% on...