2017 may be the last year that tens of millions of Americans got a tax break for donating to their favorite charities. That’s because the new higher standard deduction of $24,000 per couple ($12,000 single) that President Trump signed into law last December means that only a tiny percentage of taxpayers likely will take itemized deductions, such as those for charitable donations. Still, many donors will continue to give, because the main goal of charitable giving is doing some good.
Posts Tagged ‘tax break’
Does It Still Make Sense To Give To Charity?
Wednesday, August 15th, 2018What are some of the reasons people don’t participate or don’t contribute enough?
Thursday, May 17th, 2018That has been the subject of recent research by the Pew Charitable Trusts. They looked at employer and employee perspectives on saving, and made some interesting findings. For example, 2/3 of employees at small to mid-sized companies have access to a retirement plan at work, and 68% participate. That translates to 45% of workers at small to mid-sized businesses participating in a 401(k) or similar plan — and 55% not participating.