Tax Strategies for Charitable Giving

Donors may need to bunch their donations into a single year to itemize deductions.

(Image credit: donald_gruener)

Can I still get a tax break for donating to charity in 2018? I know the new tax law changed the rules. - T.W., Mountain City, Tenn.

You still get a tax break for charitable donations if you itemize deductions on your tax return. But the new tax law nearly doubled the standard deduction, meaning fewer people will itemize. You’ll come out ahead by itemizing if your charitable gifts plus other deductions total more than the standard deduction, which in 2018 is $12,000 for individuals or $24,000 for married couples filing jointly (plus an extra $1,600 for singles 65 or older or $2,600 for joint filers if both are 65 or older).

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.