By Daniel Dorval, CFP® | Tuesday, May 29, 2018
We have had several clients ask us about how the recent tax reforms affect how they should be thinking about their charitable giving. Many of these inquiries were a result of their tax professionals reaching out to make people aware of the changes purely from a tax perspective. Before I get into some of the potential impacts tax law changes may have on charitable giving, I would like to remind readers our planning focus is always centered on decisions that help improve quality of life rather than just tax consequences. From a pure quality of life perspective, the act of giving will always remain a benefit to both the giver as well as the receiver! Many studies have shown voluntary giving provides us with an opportunity to express of our own personal values and convictions which helps us potentially experience higher levels of personal health and happiness. We encourage everyone to remain generous with their blessings regardless of the tax consequences!