When you give to the Museum, you support our scientists' research on the planet's biodiversity. You are also creating tomorrow's scientists. Our teacher resources make each field trip a learning experience, our education outreach brings the science of discovery to schools all over LA.
The Tax Cuts and Jobs Act, signed into law by the president in December of 2017, affects the income tax of both businesses and individuals and the federal estate tax on the estates of certain high-net-worth individuals.
Except for increasing the deduction ceiling on cash gifts from 50% to 60% of AGI, the effect on charitable giving is more indirect than direct. The deduction of charitable gifts by itemizers and the gift instruments have been preserved. The income-tax savings from charitable gifts will generally be somewhat smaller because of the lower tax rates and because a larger number of individuals will not itemize deductions and thus will not realize tax savings from their gifts.
Here are some charitable strategies to consider for this year:
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