Tax Reform Proposals Could Cost Nonprofits

According to a new report commissioned by Independent Sector, the tax reforms being proposed by Republican lawmakers and the Trump administration could decrease charitable giving by up to $13.1 billion. The report, Tax Policy and Charitable Giving, estimates that current proposals to lower the top marginal tax rate and raise the standard deduction could reduce […]

Taxes and Charity Are a Double Edged Sword

Donations

There is a strange relationship between charity and taxes.  Tax deductible donations are currently honored for those that itemize their tax returns, reducing tax payments by up to 39.6% of the eligible donation.  With a budget crisis at hand, lawmakers are considering capping that tax break down to 28% of each dollar donated.  The University […]