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Michael Carr Shares Tax Tips for Scouting Leaders

Michael C_BIO_2017- Cropped.jpgTrout, Ebersole & Groff, LLP Manager and Eagle Scout, Michael Carr, CPA, shares tax tips for deducting scouting expenses on tax returns in Scouting Magazine’s latest blog.

Michael also provides insight as to what the new tax laws will mean for scout leaders. He explains, “The threshold for itemizing (filling out the Schedule A) will increase from $12,700 for a married-filing-jointly (MFJ) return in tax year 2017 to $24,000 for an MFJ return in tax year 2018.

As a result, a lot of the detailed tracking Scout leaders may have done in the past for charitable givings will no longer be necessary in 2018.

Unless charitable givings, mortgage interest, and state and local tax deductions are greater than $24,000 (MFJ) or $12,000 (Single), a Scout leader won’t be itemizing, and as a result the charitable donation won’t be deductible.”

To read the full blog, go to https://blog.scoutingmagazine.org/2018/02/06/tax-time/ or contact Michael Carr, CPA at mcarr@troutcpa.com.