By Tim Kowols
Tax code changes might keep more cash in your pocket, but it could also be to blame for less money going to charities. The passing of the Tax Cut and Jobs Act doubled the standard deduction for married couples to $24,000. The Urban-Brookings Tax Policy Center estimates that with less itemized deductions that charitable giving could drop more than $20 billion, or six percent, in 2018. Door County Community Foundation President and CEO Bret Bicoy says they have seen a lower level of donations so far this year, but believes supporting local charities is still important.
With charitable giving entering its highest point of the year, Bicoy says it is important for charities to recognize the things they can do to encourage people to remain generous.