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oldcoot
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Worried About Taxes? Check This Out Before the End--
12/26/17 at 17:08:00
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--of the year.
(Californians should pay attention!):

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TimR
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Re: Worried About Taxes? Check This Out Before the End--
Reply #1 - 12/27/17 at 06:43:40
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For charitable contributions there are some situations where you don't want to max them this year.

Let's say you are a married couple who make $110,000 in joint income and itemize $30K in deductions.  With the personal exemptions your taxable income puts you in the 15% bracket for 2017.

In 2018, the personal exemption goes away, so you would be in the 22% marginal bracket.  Assuming you are still itemizing deductions in 2018 because they are mostly due to state and local taxes and mortgage interest which you can't avoid easily, you save more on your charitable contributions by making them next year.

It's a good idea to look at your individual situation.

  
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