As federal tax reform bills make their way through Congress, you may be wondering how the proposed tax law revisions could affect your charitable giving. Although information regarding these potential tax law revisions is limited, the Office of University Advancement has compiled a brief summary of the current tax proposals that could impact charitable giving.
There is no way to predict if or when these proposed tax law revisions will be adopted. However, keep in mind that making your donations this calendar year will allow you to take advantage of the current tax benefits for charitable giving. If you are not sure how to allocate your gift, you may want to consider a donor advised fund, charitable lead trust, and charitable remainder trust or gift annuity. These gift planning vehicles allow you to make a gift in 2017 – locking in the current tax benefits – with the option to determine at a future date how you want your gift allocated.
For more information, please contact our Executive Director of Gift and Estate Planning, Steve Grourke at 610-519-3587 or firstname.lastname@example.org.
Tax Reform Summary
The information shared above is not intended to be legal, accounting or professional advice. Villanova encourages its donors to engage the services of an appropriate professional advisor when planning a charitable gift with tax and/or other financial implications.
Updated: December 4, 2017