Two Sides of the Charitable Deductions Debate: Two Sides of the Charitable Deductions Debate
January 2013
Although this month's "Fiscal Cliff" legislation retained the charitable deduction, the question of eliminating or restricting it has by no means been decided. Nor are opinions in the sector about this issue unanimous. Here are two different perspectives. Where do you stand in this debate? Tell us in the GuideStar Blog.
Showing posts with label NPFiscalCliff. Show all posts
Showing posts with label NPFiscalCliff. Show all posts
Thursday, January 17, 2013
Thursday, January 10, 2013
Fiscal-Cliff Tax Deal Expected to Boost Charitable Giving - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Some related Fiscal Cliff articles we've seen
Fiscal-Cliff Tax Deal Expected to Boost Charitable Giving - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Fiscal-Cliff Tax Deal Expected to Boost Charitable Giving
January 10, 2013, 9:14 am
By Suzanne Perry
The tax provisions adopted by Congress to avert the year-end “fiscal cliff” will increase charitable giving by an estimated 1.3 percent, or $3.3-billion, in 2013, according to a new Urban Institute analysis.
Fiscal-Cliff Tax Deal Expected to Boost Charitable Giving - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Fiscal-Cliff Tax Deal Expected to Boost Charitable Giving
January 10, 2013, 9:14 am
By Suzanne Perry
The tax provisions adopted by Congress to avert the year-end “fiscal cliff” will increase charitable giving by an estimated 1.3 percent, or $3.3-billion, in 2013, according to a new Urban Institute analysis.
Wednesday, January 09, 2013
‘Cliff’ crisis still seen looming for nonprofits � Philanthropy North Carolina
‘Cliff’ crisis still seen looming for nonprofits � Philanthropy North Carolina: Legislation passed by Congress on New Year’s Day to address the so-called “fiscal cliff” crisis simply delayed the resolution of big issues that affect charities, an advocacy group says.
“Nonprofits must remain vigilant during the next couple of turbulent months and be prepared to mobilize to lift their voices to federal policymakers,” the National Council of Nonprofits says in a statement.
“Nonprofits must remain vigilant during the next couple of turbulent months and be prepared to mobilize to lift their voices to federal policymakers,” the National Council of Nonprofits says in a statement.
Why the 'fiscal cliff' deal is an incentive to give to charity - CSMonitor.com
Why the 'fiscal cliff' deal is an incentive to give to charity - CSMonitor.com: Why the 'fiscal cliff' deal is an incentive to give to charity
The "fiscal cliff" deal's phaseout of itemized deductions is really a sneaky way to raise marginal income tax rates and creates an economic incentive to give to charities, Burman writes.
The "fiscal cliff" deal's phaseout of itemized deductions is really a sneaky way to raise marginal income tax rates and creates an economic incentive to give to charities, Burman writes.
Act now to give IRA assets to charity - CBS News
Act now to give IRA assets to charity - CBS News: MoneyWatch) A provision in the recently enacted "fiscal cliff" law could provide a significant tax benefit for seniors who want to donate part of their IRAs to charity. Of course, there's some fine print along with the benefit.
Monday, January 07, 2013
Fiscal cliff law brings mixed news to charitable organizations | TribLIVE
Fiscal cliff law brings mixed news to charitable organizations | TribLIVE: Charity leaders say they‘re relieved the tax law Congress passed on New Year‘s Day does not more severely limit the tax advantages of making donations.
The American Taxpayer Relief Act of 2012, which kept the country from going over the “fiscal cliff,” erases some uncertainty about tax rules that affect giving but still might impact charities and donors, the leaders said.
“There‘s some good in it and some bad in it for charities,”
The American Taxpayer Relief Act of 2012, which kept the country from going over the “fiscal cliff,” erases some uncertainty about tax rules that affect giving but still might impact charities and donors, the leaders said.
“There‘s some good in it and some bad in it for charities,”
Thursday, January 03, 2013
Nonprofits Call Cliff Deal a Victory on Giving Incentives - Government - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Nonprofits Call Cliff Deal a Victory on Giving Incentives - Government - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Nonprofits Call Cliff Deal a Victory on Giving Incentives
By Doug Donovan
Nonprofit officials declared a victory in their advocacy to preserve the charitable tax deduction after Tuesday’s Congression�al vote to avert the fiscal cliff. But they remain frustrated that Congress did not resolve the $55-billion in federal spending cuts that are expected to hit social-service nonprofits particularly hard.
By Doug Donovan
Nonprofit officials declared a victory in their advocacy to preserve the charitable tax deduction after Tuesday’s Congression�al vote to avert the fiscal cliff. But they remain frustrated that Congress did not resolve the $55-billion in federal spending cuts that are expected to hit social-service nonprofits particularly hard.
Fiscal Cliff Deal Allows Giving IRA Assets To Charity - Forbes
Fiscal Cliff Deal Allows Giving IRA Assets To Charity - Forbes: Act fast: the fiscal cliff deal has a special tax break for cash donated by seniors to charity in Jan. 2013.
It’s a variation on the so-called IRA charitable rollover–
It’s a variation on the so-called IRA charitable rollover–
Special Report: Everything Each NPO Must Know about Fiscal Cliff Legislation | Michael Rosen Says…
Special Report: Everything Each NPO Must Know about Fiscal Cliff Legislation | Michael Rosen Says…: Special Report: Everything Each NPO Must Know about Fiscal Cliff Legislation
A dysfunctional White House and Congress officially took the United States over the so-called “Fiscal Cliff” at the close of December 31. Fortunately, a deal was reached late on New Year’s Day, hopefully averting what economists say would have been an almost certain return to deep recession.
Since the American Taxpayer Relief Act of 2012 was passed, there’s already been a great deal of confusion and misinformation about what the Act means to the nonprofit sector.
A dysfunctional White House and Congress officially took the United States over the so-called “Fiscal Cliff” at the close of December 31. Fortunately, a deal was reached late on New Year’s Day, hopefully averting what economists say would have been an almost certain return to deep recession.
Since the American Taxpayer Relief Act of 2012 was passed, there’s already been a great deal of confusion and misinformation about what the Act means to the nonprofit sector.
Wednesday, January 02, 2013
Charitable Deduction Not Taken Down by the Fiscal Cliff - Press - AFP
Charitable Deduction Not Taken Down by the Fiscal Cliff - Press - AFP: IRA Rollover Provision Extended
There was some good news in the final fiscal cliff bill for charities. The tax extenders package, which includes the IRA Rollover provision, was included in the fiscal cliff bill. The IRA Rollover provision permits individuals ages 70� and older to give direct gifts up to $100,000 to qualified public charities from their Individual Retirement Accounts (IRAs) without tax penalty.
There was some good news in the final fiscal cliff bill for charities. The tax extenders package, which includes the IRA Rollover provision, was included in the fiscal cliff bill. The IRA Rollover provision permits individuals ages 70� and older to give direct gifts up to $100,000 to qualified public charities from their Individual Retirement Accounts (IRAs) without tax penalty.
Monday, December 17, 2012
Looming Tax Hikes Boost DAFs - TheNonProfitTimes
Looming Tax Hikes Boost DAFs - TheNonProfitTimes: Looming Tax Hikes Boost DAFs - 12/17/2012
By Patrick Sullivan
It seems as if the words “fiscal cliff” can be seen everywhere. For most Americans, the impending tax increases and spending cuts are something over which to lose sleep, but tax uncertainty is fueling major growth for the donor advised fund (DAF) of San Francisco, Calif.-based Schwab Charitable. Between July and October 2012, Schwab Charitable saw its total assets under management increase by $188 million, or 74 percent, compared to the same period in 2011.
By Patrick Sullivan
It seems as if the words “fiscal cliff” can be seen everywhere. For most Americans, the impending tax increases and spending cuts are something over which to lose sleep, but tax uncertainty is fueling major growth for the donor advised fund (DAF) of San Francisco, Calif.-based Schwab Charitable. Between July and October 2012, Schwab Charitable saw its total assets under management increase by $188 million, or 74 percent, compared to the same period in 2011.
Monday, November 05, 2012
Washington area charities take action to prepare for ‘fiscal cliff’ - The Washington Post
Washington area charities take action to prepare for ‘fiscal cliff’ - The Washington Post: At the nonprofit United Communities Against Poverty, Nina Lewis has a goal for this holiday season: Don’t let one volunteer slip away.
Her position as volunteer coordinator was created in October as part of the charity’s strategy to gird itself against the looming federal budget cuts, which threaten to hack $178,595 from its government funding.
Her position as volunteer coordinator was created in October as part of the charity’s strategy to gird itself against the looming federal budget cuts, which threaten to hack $178,595 from its government funding.
Wednesday, October 31, 2012
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.
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.
Tuesday, March 27, 2012
Wine Swigging For Charity - Forbes
Wine Swigging For Charity - Forbes: he nation’s largest charity wine auction cherishes its reputation for fiscal rectitude. “Overhead is covered by ticket sales or private donations, and every nickel raised under the tent goes to the kids,” Clifford says. Early-childhood education; medical, behavioral, and oral health; and out-of-school and hunger-prevention programs are the primary grantees, and each must reapply annually. In 2012, NCEF will pass out 25 checks totaling more than $8 million—proceeds from the auction and other events. (Remaining funds go toward long-term initiatives.) The foundation estimates it has helped improve the lives of more than 150,000 children. Worth toasting, indeed.
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