“Deducting charitable donations made in 2018 may pose a problem for many taxpayers this year. That’s not because last year’s tax overhaul limited these donations — most are still deductible, just as they were in prior years. However, the new tax law did increase the standard deduction and limited the deduction for state income and property taxes. That means more filers will find they’re better off simply claiming the standard deduction rather than itemizing deductions, including those for charitable donations. Here are the details behind the changes — and what you can still do to gain tax breaks from your charitable deductions. Click here to read more. .
Source: CBS News