Texas Tech University

Tax Bites: Is the Season of Giving Over?

William Vogeler

December 20, 2017

FindLaw - Taxpayers are rushing to claim deductions before the new tax bill goes into effect, and few know what their final bill will be.

Gerry W. Beyer, a professor at Texas Tech University School of Law, says the tax bill may also hurt end-of-the-year giving.

Charitable Not-Giving

He said many taxpayers wait until late December to make donations to charity. It is a cut-off for taking a deduction in the tax year.

"With standard deductions likely going up, these last-minute donors have less incentive to itemize their deductions, which may lead to fewer gifts to charities," he wrote for the Wills, Trusts and Estates Prof Blog.

Read the story here.