News & Event
As the leaves turn — and nightfall arrives earlier, with a cooler edge — our focus shifts to planning for the upcoming holiday season. While marking your calendar with all the events the season brings, you may also want to consider your strategy for year-end giving opportunities before the festive rush is upon us.
New to charitable giving considerations in 2018 are the changes brought by the Tax Cuts and Jobs Act of 2017, which took effect this tax year. With the standard deduction nearly doubled, “bunching” provides a purposeful way to maximize the impact of your charitable giving and your tax advantage. For those required to take a distribution from their IRA— everyone age 70½ and older — transferring those distributions directly to a qualified public charity such as Greater Cincinnati Foundation (GCF) affords a giving strategy that provides tax savings.