Posted on Dec 28, 2017
Charity donations likely to drop next year due to tax law
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Misleading Headline... From the Article —
“The sweeping Republican tax overhaul, delivered by the GOP-dominated Congress and signed into law by President Donald Trump, doesn't eliminate or even reduce the deduction for donations to charitable, religious and other nonprofit organizations. Charitable giving should be encouraged with a tax incentive, congressional Republicans crafting the plan said early on, and the cherished deduction — though costing some $41.5 billion a year in lost federal revenue — wasn't struck even as other longstanding deductions fell or were scaled back.”
“The sweeping Republican tax overhaul, delivered by the GOP-dominated Congress and signed into law by President Donald Trump, doesn't eliminate or even reduce the deduction for donations to charitable, religious and other nonprofit organizations. Charitable giving should be encouraged with a tax incentive, congressional Republicans crafting the plan said early on, and the cherished deduction — though costing some $41.5 billion a year in lost federal revenue — wasn't struck even as other longstanding deductions fell or were scaled back.”
Charity donations likely to drop next year due to tax law
Posted from apnews.com
Taxes
IRS
Posted 7 y ago
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I don’t know about other folks but I make charitable donations because I believe in helping others. The tax benefit is an added incentive but it won’t change my number of donations.
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Sgt Wayne Wood
SMSgt Thor Merich In my experience that is true of most folks who give...
I guess reporters/journalists & other scum only do it for tax purposes...
I guess reporters/journalists & other scum only do it for tax purposes...
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LTC (Join to see)
Spot on in my view, SMSgt Thor Merich. The only time I think "taxes" with regard to charitable giving is when I sit down to fill out my 1040 each year. By then, it is what it is.
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Can’t remember where from, but I read that 78% of all charitable giving actually comes from the middle class 75% of whom claim the STANDARD deduction on their taxes and get ZERO benefit from the charitable deduction on an itemized tax return. The only people that are likely to get hurt here are the rich. So what is the left’s Bitch??????
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1SG Dennis Hicks
Typical Liberal Progressives, when you can't make an argument you fall back on emotional drama to support your leftist views :)
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