2017 Tax Reform is here. Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in how your federal income tax bill, and the amount of federal tax you will pay is calculated. Since most of the changes will go into effect next year, you have time prior to year end to maximize your itemized deductions to best position yourself for the tax breaks that may be heading your way.
You will see a larger standard deduction next year but you will also see suspension or reduction to many popular tax deductions in exchange for a larger standard deduction. Here's how you can help Daemion while helping with your tax savings for this year.
The itemized deduction for Charitable Contributions will still be in effect. But because most other itemized deductions will be eliminated in exchange for a larger standard deduction (e.g., $24,000 for joint filers), charitable contributions after 2017 may not yield a tax benefit for many because they won't be able to itemize deductions. If you think you will fall in this category, consider accelerating your charitable giving to Daemion Counseling Center in 2017.
Make a generous tax-deductible contribution today. Donate today