Washington Post: With Tax Reform, You May Want to Donate More This Year.
Below is an excerpt from the Washington Post. To read the full article, click here.
Given the large increase in the standard deduction in the tax reform bill just passed by Congress, some Americans may be less likely to itemize for charitable deductions in the 2018 tax year — a prospect that has some nonprofits worried that donations will go down. You might want to donate more this year, before the new rules take effect. But how can you be sure you’re giving to the right cause?
We talked with Charlie Bresler, who thinks the way you donate money is probably all wrong.
Bresler left his job as president of Men’s Wearhouse several years ago to dedicate his life to philanthropy and the concept of effective altruism, which means maximizing the overall social good instead of giving to a charity you may have an emotional connection to. He is the volunteer executive director of The Life You Can Save, a charity that encourages people to donate to certain nonprofits that save and improve lives in the developing world.December 26, 2017