With the first year of the Tax Cuts & Jobs Act of 2017 (TCJA) officially behind us, a lot of retirees could be heading for a rude awakening come tax time. Why? Remember the old saying about how no good deed goes unpunished? Retirees who are charitably inclined could soon learn their gifting program might actually be costing them money come tax time.
Here are the high points discussed in detail below: