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Abstract: 

The last months of the year are an important time for tax-planning. Individual donors must make their charitable contributions before year-end in order to claim an IRC §170 charitable contribution deduction for the current year. This article highlights the impact of recent tax-law changes on year-end planning, and guides donors and their advisors through some common pitfalls. Considers new limitations on charitable deductions; why and when to use “bunching” contributions to maximize tax savings; advantages of donating from IRAs; newly issued regulations clarifying compliance rules for substantiation; and new rules governing contributions of property.

Keywords: Tax Cuts and Jobs Act; “Bunching”; Donations to Public Charities; Pease Limitation; Substantiation and Reporting Charitable Contributions; Contemporaneous Written Acknowledgements

Affiliations:  1: Clark Hill Strasburger.