The Tax Cuts and Jobs Act (TCJA) significantly changed the nature of the tax deduction for charitable donations. The benefits of the charitable giving deduction may go well beyond its ability to reduce the after-tax cost of giving. The signal it sends—that charitable giving is a good thing—may be as important as the dollars donors save. And without those small givers, non-profits worry about where the next generation of donors will come from. The signal it sends, that society values charitable donations, may be as important as the dollars themselves.

Source: Forbes October 22, 2018 14:03 UTC