Big Charities in Danger of Death

Americans love to be charitable, especially with receiving the tax-deduction that follows. When faced with enormous tax bills, the ultra-high-net-worth would rather give their money to charity than the government. But there have recently been agency problems galore. The worst thing for the American Cancer Association on the “business” side of things would be if […]

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 […]