WrapManager's Wealth Management Blog

When life changes, we can help you thoughtfully respond.

Tax Reform Favors Charitable Giving From IRAs Finds Lord Abbett

Posted by WrapManager's Investment Policy Committee

April 19, 2018

Qualified charitable distributions (QCD) are poised to become even more popular under the new tax law. 

While the Tax Cuts and Jobs Act (TCJA) generally doubled the standard deduction, while eliminating many itemized deductions, financial advisors will want to update their clients on the potential tax-saving benefits of qualified charitable deductions (QCDs) now that they have been made permanent.

Remember that a charitable contribution is itself an itemized deduction, so most taxpayers will no longer receive the full deduction value—unless all other itemized deductions exceed the standard deduction amount. In other words, far fewer taxpayers will itemize, thus fewer taxpayers will be able to take advantage of the deduction for charitable giving.

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Economic/Market Outlook Lord Abbett Company Llc Money Manager Commentary

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