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Recently published reports indicate that Americans donated to charities at record levels in 2017, continuing an upward trend experienced since 2010, as charitable giving recovered from the largest decreases since the Great Depression.1
Some commentators have predicted that this growth may slow down or reverse in light of the Tax Cuts and Jobs Act of 2017 (the Act). History reveals that giving levels have indeed slowed in the past when the value and/or utility of the federal charitable income deduction has been reduced due to federal tax law changes. These declines have always proved to be limited to one year at most with renewed growth resumed as individuals and their advisors have quickly adapted to changes. See “The Ups and Downs of ...
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