This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website

Make the most of the new charitable giving rules

The vast majority of Americans no longer get tax breaks for charitable contributions, but that’s no reason to stop giving. In fact, you might take this opportunity to broaden your ideas about what constitutes a charitable gift. To make your contributions count while maximizing your tax benefit, consider ways to adjust your approach. Review donor-advised funds, stock donations, and qualified charitable distributions from your Individual Retirement Account, or IRA. If you are skipping a charitable gift instead of a gift to an individual, make sure you know the limits of the gift exemption.

Most people no longer get a tax deduction when donating to charity. This shouldn’t stop you from donating, but you may want to change your approach.

Generally, only taxpayers who itemize deductions can write off charitable contributions. The vast majority of taxpayers take the standard deduction instead, which was nearly doubled by the Tax Cuts and Jobs Act 2017. have expired.)

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