So maybe you should accelerate your deductions for charitable donations. Beyond that point, any deduction for charitable donations will be valuable, probably worth between 22 and 40 cents on the dollar. Despite their high income they will be taking the standard deduction because $10,000 plus $10,000 is less than $24,000. With state and local taxes thrown in, they will be well over the standard deduction threshold. So their charitable deductions in 2018 and later will not go to waste.

Source: Forbes December 08, 2017 19:41 UTC