The tax reform bill passed by the Senate and House of Representatives that now awaits President Trump’s signature will double the standard deduction, which will result in far fewer Americans itemizing their tax return. This may affect the advantages of making a charitable gift. A charitable gift is deductible only if you itemize.
If you are one of many taxpayers who will no longer itemize deductions after this year, and if you would be considering making a charitable gift over the next several years, we would like to suggest that you consider making a gift before the end of THIS year, while you can still claim the charitable deduction to help reduce your tax burden.
If you have already made your tax deductible gift, please accept our sincerest gratitude.
If we can answer any questions or if you would like to discuss a possible gift to St. Anthony’s Hospital Foundation, please feel free to telephone. I would be happy to talk with you.
Wishing you and your loved ones a very Happy Holiday season and a peaceful and prosperous New Year.