The Tax Cuts and Jobs Act (TCJA) that was passed by Congress in late 2017 brought some important changes to the Federal tax code that will have a material impact on many Americans. While many taxpayers will see their tax burden shrink for 2018 as a result of these changes, others will be less fortunate and will actually end up paying more in taxes than they would have under previous law. Changes such as the cap on deductibility of state and local taxes (SALT) and the elimination of certain miscellaneous deductions have caused many taxpayers (especially those in states and municipalities with high local taxes) to look for strategies to offset some of the adverse consequences of the TCJA. One such strategy that is available specifically to older taxpayers is the Qualified Charitable Distribution.
This article is prepared by Appleseed Capital for informational purposes only and is not intended as an offer or solicitation for business. The information and data in this article does not constitute legal, tax, accounting, investment or other professional advice. There are no assurances that any predicted results will actually occur or that this investment strategy will outperform any other. The views expressed are those of the author(s) as of the date of publication of this report, and are subject to change at any time due to changes in market or economic conditions.