Charitable contributions see change in deduction rules
Cristiana Gigina
If you donate to tax-exempt charities or nonprofits, be aware. Significant changes are coming that will affect how much of those contributions you can deduct from your taxes. These changes, part of President Donald Trump ’s recently passed federal tax-and-spending cuts package, will impact both those who take the standard deduction and those who itemize their deductions. Cash gifts deductions During the first two years of the COVID-19 pandemic, taxpayers who claimed the standard deduction
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