How does the tax cut and job act affect giving in churches
When the Tax Cuts and Jobs Act tax plan was passed by the Trump Administration in December of 2017, it increased the standard deduction people could claim on their taxes to just about double of what it was the previous years. What does this mean? In a nut shell it means that the standard deductions that all tax payers are entitled to has increased • Standard deduction (previously): About $13,000…