Ins and outs of seniors donating to their favorite charities under the New Tax Law

January 2, 2019

The new 2018 tax law has left many Delaware and Pennsylvania residents uneasy about their previous charitable donation strategy as many taxpayers will no longer itemize their deductions. Taxpayers who are over age 65 receive an extra standard deduction of $1,300 per spouse, resulting in a married couple who is in their 70’s with a whopping $26,600 standard deduction. This makes itemizing deductions even more unlikely and many clients are asking us why bother giving to charity anymore at all?

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