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The Money Mustache Community
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Learning, Sharing, and Teaching
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Charitable donations under new tax law
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Topic: Charitable donations under new tax law (Read 1170 times)
DBV1985
5 O'Clock Shadow
Posts: 51
Location: arizona
Charitable donations under new tax law
«
on:
January 12, 2018, 08:50:28 PM »
Hello,
It doesn't look like I will be itemizing in 2018. That means my charitable donations won't have the same affect on my tax returns. Is anyone else planning to change the way you donate because of the new tax law? I read the MMM blog about Betterment charitable giving with investment gains to save more on taxes. What are you thoughts on this method of donating?
J
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katsiki
Handlebar Stache
Posts: 2015
Age: 43
Location: La.
Re: Charitable donations under new tax law
«
Reply #1 on:
January 15, 2018, 02:44:40 PM »
Yes. Check out this thread on DAFs.
https://forum.mrmoneymustache.com/taxes/let's-talk-about-dafs/
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seattlecyclone
Walrus Stache
Posts: 7262
Age: 39
Location: Seattle, WA
Re: Charitable donations under new tax law
«
Reply #2 on:
January 15, 2018, 08:25:33 PM »
Yep, seems like the optimal strategy for most people now will be to give a pretty big lump sum to a DAF one year so that you can itemize that year, distribute it over the next couple of years while you take the standard deduction, and then repeat.
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Charitable donations under new tax law