Because the standard deduction has been raised to $12,000 for
\nindividuals and $24,000 for married couples filing jointly, some people
\nmay lose the advantage of deducting charitable donations, since their
\nitemized deductions won’t exceed those amounts. <\/p>\n
So for donors who are over 70 1\/2 years old, they may want to use the
\ncharitable IRA rollover. The charitable IRA rollover is a distribution
\nfrom an individual retirement account directly to a charity. The
\ndistribution from the plan administrator directly to the charity counts
\ntoward the donor\u2019s required minimum distribution for the year, but the
\ncharitable donation is not included in the donor\u2019s adjusted gross
\nincome. <\/p>\n
Others may use a donor-advised fund. Donor-advised funds (DAFs) are This is not legal or tax advice. You should speak to your legal or tax Because the standard deduction has been raised to $12,000 for individuals and $24,000 for married couples filing jointly, some people may lose the advantage of deducting charitable donations, since their itemized deductions won’t exceed those amounts. So for donors who are over 70 1\/2 years old, they may want to use the charitable IRA rollover. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12763","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts\/12763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/comments?post=12763"}],"version-history":[{"count":1,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts\/12763\/revisions"}],"predecessor-version":[{"id":12764,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts\/12763\/revisions\/12764"}],"wp:attachment":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/media?parent=12763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/categories?post=12763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/tags?post=12763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\naccounts where the donors can advise on where and when to distribute
\nfunds. Donors claim the charitable deduction in the year the money is
\ntransferred to the DAF even though the funds have not been given
\nto the final specific charities. This allows donors to consolidate several
\nyears of charitable gifts into one year for their income tax returns.
\nFor example, married donors who usually give $3,000 per year to their
\nfavorite charitable organization can create a Donor-Advised fund,
\ndeposit $21,000 in it for a current year tax deduction, and then
\ndistribute $3,000 per year as annual gifts in future years. For example,
\nhere is information about a few Donor Advised Funds.
\nhttps:\/\/www.fidelitycharitable.org\/philanthropy\/what-is-a-donor-advised-fund.shtml <\/a>
\nhttps:\/\/www.schwabcharitable.org\/public\/charitable\/donor_advised_funds<\/a>
\nhttp:\/\/programforgiving.org\/charitable\/pages\/home.jsp <\/a><\/p>\n
\nadvisor.<\/p>\n","protected":false},"excerpt":{"rendered":"