One change, the elimination of the Pease limitation, makes it slightly more advantageous for high-net-worth individuals to give. In 2017, certain itemized deductions were reduced when adjusted gross income exceeded $261,500 for single filers and $313,800 for married couples filing jointly.
The Pease limitation is repealed in the new law, lifting the limit on itemized deductions for high-income taxpayers. For such people who itemize deductions, the absence of the Pease limitation may provide a small incentive for making additional contributions to charity in 2018 and beyond, Haskell says.