The Tax Cuts and Jobs Act (TCJA) has brought several changes that impact charitable giving, especially for those using Individual Retirement Accounts (IRAs). While it increased the charitable deduction limit, it also raised the standard deduction, making it harder for less-ambitious givers to benefit. One significant advantage for charitably inclined seniors is the ability to make Qualified Charitable Distributions (QCDs) from IRAs, allowing tax-free donations that also count toward Required Minimum Distributions (RMDs).
![Charitable Giving from IRAs: Key Changes Under the TCJA](https://resources.vasquez.cpa/wp-content/uploads/2024/07/How-the-Current-Tax-Law-Affects-Charitable-Giving-from-IRAs.png)