Get more for your 2018 deductions plan TODAY!

8265224-hand-and-leg[1]https://www.cnbc.com/2018/01/04/bunching-charitable-donations-could-help-you-save-on-taxes-this-year.html

It is called “Bunching” your charitable donations.  It is no secret that the tax system in 2018 is changing greatly.  Fewer people will be able to itemize deductions and therefore will just get the standard deductions in 2018 loosing some of the typical deductions we are all used to having.

Basically with the standard deduction changing with the new system to “bunch” your charitable donations is basically you go ahead and give donations of two or three years in this year to make it where you can itemize and get the deductions.  I can see this being a strain on the common person/family.  This idea will be more helpful for those households that have a high income.

2018 standard deductions are 12,000 for singles and 24,000 for married filing jointly.

 

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