Tax professionals say now is the time to donate as President signs new tax bill

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Tax professionals say this year may be the year to donate to charity if you file it as a tax deductible since President Trump signed the $1.5 trillion tax bill.

Tax professionals say the new bill is a major tax overhaul and one of the biggest they've seen since 1986.
They also say that charitable giving could drop by as much as $20 billion a year, because the tax plan nearly doubles the standard deduction for individuals and families.

Ketel Thorstensen CPA Jennifer Konvalin says, "There actually isn't a large incentive to donate to charity in 2018, with the standard deduction doubling your incentive is now probably to donate to charity and take advantage of these higher itemized deductions this year."

Konvalin says if you donate now you can maximize your benefits.