For Now, Uncle Sam Rewards Those Who Give To Charity
Non-Profit Expert Helps Donors Decipher Tax Rules
Since 1917, Uncle Sam has incentivized charitable giving by allowing taxpayers to deduct their charitable contributions off their federal income taxes. But recent government actions indicate that Uncle Sam's had a change of heart. With the Pension Protection Act of 2006, congress passed tighter regulations for charitable deductions, such as restricting taxpayers from deducting the spare change dropped in a charity's collection bucket without a receipt. More recently, the Obama administration has proposed reducing the charitable tax deduction for the wealthiest Americans as a way to help reduce the federal budget deficit.
With April 15 approaching, your audience should know how the rules governing charitable deductions have changed.
Items for discussion could include:
Ken Berger is President & CEO of Charity Navigator a non-profit evaluator providing free online ratings of over 5,000 charities and tax advice tips. He is available, by phone or via a studio in the NYC area, to help your audience earn credit for their generosity.