Tax refresher: What's changed under the new law?

Nov 19, 2019

The Tax Cuts and Jobs Act (TCJA) of 2017 enacted the first overhaul of the tax code since 1986. If you're still getting used to the new law, you are not alone. With year-end tax deadlines approaching, it's a good time to review a few significant provisions in the TCJA, and see how they might impact your charitable giving. 


(Need more than a refresher? For a detailed overview of the law, read our news article from 2017, See what the new tax law means for you.)


Standard deduction increased. A higher standard deduction under the TCJA means you’ll have to reevaluate whether you have enough deductions to make itemizing worth it. Under the new law, some taxpayers may decide to bunch charitable contributions into a single tax year in order to benefit from itemized deductions. 


A Vanguard Charitable donor-advised fund lends itself to a thoughtful, multi-year approach that maximizes your tax benefits.


You can give more cash. You may give up to 60% of your Adjusted Gross Income (AGI) to charity in one year, provided the contribution is made in the form of “cash”—checks, wires, and bank transfers. The previous limit before the TCJA was 50%. (A 30% limit still applies to contributions of appreciated securities.) Any giving that exceeds these limits may be carried forward and used over a five-year period.


Capital gains rates are unchanged. Assets held for more than one year are still subject to capital gains taxes when they are sold—but not when they are donated. The specific rate depends on your income bracket.


Want to reduce capital gains taxes? Consider contributing appreciated assets to your donor-advised fund. In general, mixing and matching the assets you donate can maximize your giving—and your tax benefits. Learn more about the advantages of donating appreciated securities and complex assets. 




Remember that your favorite charities are also adjusting to the new law. The demand for their programs and services, however, has likely not decreased just because of changes to the tax code. Now is an excellent time to take meaningful, strategic action, and support the nonprofits you admire.


Tax refresher: What's changed under the new law?
Tax refresher: What's changed under the new law?
Published Date

Session timed out

For security reasons, you have been automatically logged out. To login, please click close and sign into your account.

Log out successful

This account is frozen. Contact us at
Request for user ID submitted

Your request was successfully submitted.Your user ID will be sent to the email address we have on file for you. Please contact us if you do not receive your user ID.
There are no open accounts associated with this User ID. Please contact us at
Online access to your account is currently disabled. Please contact us at to resolve this matter.

Log out successful

Login with your new User ID.

Log out successful

Login to access your account.
You do not currently have valid roles for any accounts. Please contact us at

A technical error has occurred

In order to maintain information security, your log-in request was canceled or your previous session ended.
Don't worry. You can log back in at any time.


Technical error. Please try again.

Log out successful

Login to update your phone number.

Technical error

You have reached a technical error and this session is not currently available.
Your email address was successfully verified.
Your account has been unblocked. Click login to access your account.

It’s not you. It’s us!

We are experiencing a technical error and we’re working on it. Please try again later.

You are unauthorized to access this page.


Maintenance fee may be applied

Accounts having a balance below $25,000 may be subject to an annual maintenance fee of $250.


You are eligible for special rates

Our premier clients enjoy reduced pricing to further maximize their impact.

Our representatives are happy to guide you through.

No, take me back


Click OK to cancel your enrollment.

Click Cancel to continue opening your account.