Do the Math: Abolishing the Charitable Deduction Would Cost Charities Billions - Opinion - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: While economists have long studied the impact of the deduction, they have not reached a clear consensus on how much it matters. A new study, however, along with recently released IRS data make it quite clear that America’s charitable organizations could be hurt greatly if donors lost all or part of the charitable income-tax deduction as lawmakers seek ways to avert the looming “financial cliff.”
The new study of the wealthy and their philanthropy, released last month by Bank of America, asked affluent people (mostly with incomes of $200,000 or more and net assets of at least $1-million) how they might alter their giving if deductions were eliminated.
No comments:
Post a Comment