Enid Ablowitz: Tax-wise giving - Boulder Daily Camera

Enid Ablowitz: Tax-wise giving - Boulder Daily Camera: Happy New Year! As part of the "fiscal cliff" compromise legislation, Congress did three things that impact donors:

They approved the IRA Charitable Rollover.

They imposed limits on itemized deductions for higher-income taxpayers.

They "permanently" modified the estate tax calculation.

With thanks to the University of Colorado Foundation and especially Vice President Kristen Dugdale, here's a summary of the changes:

Charitable Deduction Isn’t ‘Loophole To Close’ - TheNonProfitTimes

Charitable Deduction Isn’t ‘Loophole To Close’ - TheNonProfitTimes: In the middle of an acrimonious election season, policymakers in Washington, D.C., are faced with a looming “fiscal cliff” and the very real possibility that their delay in dealing with a number of fiscal policies is finally catching up with the country.

The facts are stark and can be universally agreed upon: With the growth in entitlement spending and a tax code that grows more complex every year, this country faces a major need to look at all fiscal policy to determine what is the best path forward for long-term, sustained economic growth. Regardless of what mix of “revenue enhancements” and spending cuts are used, a healthy nonprofit sector will be a critical component to these changes.

Is Tax Incentive for College Football Season Ticket Holders Fair? - NPQ – Nonprofit Quarterly - Promoting an active and engaged democracy.

Is Tax Incentive for College Football Season Ticket Holders Fair? - NPQ – Nonprofit Quarterly - Promoting an active and engaged democracy.: f this nation is going to assess the progressiveness—or lack of progressiveness—of charitable tax deductions, or any tax breaks for that matter, we should be looking at questions of who benefits, by how much, and for what reasons. Writing for Bloomberg News, Curtis Eichelberger and Charles Babcock describe a relatively little-publicized tax incentive: according to the highly regarded sports economist Andrew Zimbalist, many colleges require charitable donations to the school in return for the privilege of buying tickets at face value. The Bloomberg writers state that the ticket purchasers can then write off 80 percent of the value of the mandatory donations against their taxes, which costs the federal treasury $100 million a year.

More Americans to increase donations, and not for the tax deduction - latimes.com

More Americans to increase donations, and not for the tax deduction - latimes.com: The do-gooding spirit is thriving in the U.S., with 81% of Americans planning to maintain or boost their donations this year, according to a new report.

That’s nine percentage points higher than 2011 and 18 points above 2010, according to Fidelity Charitable, which offers programs to boost altruism. The average American plans to give $2,400, up from $2,100 last year.

The NonProfit Times - Nonprofits rally against reduced charitable deduction rate

The NonProfit Times - The Leading Business Publication For Nonprofit Management: "For many nonprofits, the term 'reduced charitable deduction rate' is at the top of the list of the ire-breeding aspects of current proposals as the president attempts to find a way to finance healthcare reform. In what might be considered unusual, not all nonprofit executives believe that the tax on people making more than $250,000, the president's proposal, and the deduction reduction, is a bad thing."