The new tax act that was signed into law on December 22, 2017 has made some profound changes to the tax code and will affect everyone in some way. Because the Standard Deduction is almost doubled for 2018, many people who itemize in 2017 might find that there will be no advantage in itemizing in 2018. The result is that it might be more advantageous for you to move as many deductions as possible, such as charitable donations, into 2017. This change might affect your charitable giving decisions in 2017.
If you were planning to donate to the Ann Arbor Rotary Foundation or the Rotary Foundation (Every Rotarian Every Year or Polio Plus) in calendar year 2018, consider making the donation in 2017, to take advantage of the deduction before the new law goes into effect.
As always, consult your own tax advisor about how this would affect your particular tax situation.
If you decide to make these donations now, here’s how to ensure that you get the credit in 2017:
- For contributions to our Ann Arbor Rotary Foundation, use Paypal on our old web site at annarborrotary.org.
- For Every Rotarian Every Year and Polio Plus, go directly to the
Rotary International web site (rotary.org).
If you make a donation directly to Rotary International, please notify me (firstname.lastname@example.org) or John White (email@example.com) so that we can get you the proper credit toward your Paul Harris Fellowship.