Stay in front of the new tax act and give to charitable causes

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By Lindsey Paige Markus

Lindsey Paige Markus, a shareholder at Chuhak & Tecson P.C., draws on her early career in business, finance and clinically applied neuroscience to communicate with clients and develop creative solutions to fit their estate planning, wealth protection and corporate needs. Lindsey is a dynamic contributor to local news outlets such as NBC 5 Chicago, Fox News Chicago and WCIU, and has been recognized as one of the 40 Illinois Attorneys Under Forty, a Woman Making an Impact in the Law, an Illinois Super Lawyer and a Leading Lawyer. Lindsey is licensed in Illinois and Florida and has a national practice.

Posted November 16, 2018 3:28 PM

A closer examination of the Tax Cuts and Jobs Act opens the door to strategically planned giving for charitable contributions. Under the new law for cash donations made from 2018 to 2025, the applicable charitable contribution limit is 60 percent of the donor’s contribution base. However, a taxpayer can carry forward any amount, which exceeds that threshold, for up to five years.When filing personal federal income tax statements, taxpayers have the option to use the standard deduction or to itemize deductions. No …

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