The Fall 2018 issue of the Boston Bar Journal includes Brad Bedingfield's article, "Tax Cuts and Jobs Act of 2017: New Tax Law May Affect Charitable Giving".
In December 2017, Congress changed the tax laws in a number of ways that affect incentives for individuals and businesses to make charitable contributions. Pub. L. 115-97 (Dec. 22, 2017) (Tax Cuts and Jobs Act of 2017) (“Act”). A variety of studies published since the new law was enacted predict an overall drop in 2018 charitable giving of as much as $22 billion (down about 5 percent from 2017 levels), and reports from the first two quarters of 2018 do appear to show a significant drop in charitable giving compared to 2017. While many attribute this drop to the Act, opinions differ on whether the changes in legal tax incentives are truly driving, or will drive, changes in charitable giving patterns. So what incentives changed beginning 2018, and how might those changes affect decisions whether and when to give to charity?
Read the full article in the Fall 2018 issue of the Boston Bar Journal: Tax Cuts and Jobs Act of 2017: New Tax Law May Affect Charitable Giving