In Legal Terms: Charitable Contributions and Other Tax Changes




In Legal Terms show

Summary: <p style='font-family: sans-serif, Arial, Verdana, "Trebuchet MS"; font-size: 13px;'>Professor Richard Gershon reminds us of the impact of the Tax Cuts and Jobs Act for 2018. Charitable contributions and other deductions, exemptions, and tax planning are discussed.</p><ul style='padding-right: 40px; padding-left: 40px; font-family: sans-serif, Arial, Verdana, "Trebuchet MS"; font-size: 13px;'> <li>Personal exemptions eliminated</li> <li>Standard Deduction almost doubled</li> <li>Child and Dependent tax credit increased</li> <li>Beware of Alternative Minimum Tax and Kiddie Tax</li> </ul><p style='font-family: sans-serif, Arial, Verdana, "Trebuchet MS"; font-size: 13px;'>Tax Reform Basics for Individuals and FamiliesĀ <a href="https://www.irs.gov/pub/irs-pdf/p5307.pdf" style="color: rgb(7, 130, 193);">https://www.irs.gov/pub/irs-pdf/p5307.pdf</a></p>