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Could tax reform spur more charitable giving?

by Sherri Welch | Aug 03, 2018   ()

Could tax reform passed late last year actually spur another increase in overall giving?

It's an interesting question, coming off of a record year in 2017 when an estimated $410.02 billion was donated to U.S. charities by American individuals, foundations and corporations, according to Giving USA.

But it's not outside the realm of possibility, said Leon LaBrecque, managing partner and CEO of LJPR Financial Advisors in Troy.

While the larger standard deductions could decrease incentive for those making smaller gifts, provisions in the new tax law could actually incent larger gifts, he said.

"I think the $25 gifts will go down, but the $25,000 gifts will go up."
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Source: Crain's Detroit Business

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