The Taxman Cometh, Part 1: The Downside of the 2017 Tax Bill for Nonprofits
The Agitator
MARCH 13, 2018
Specifically, the Joint Committee of Taxation estimates that 28 million fewer people will take a charitable deduction, falling from about 30% of taxpayers to about 5% of taxpayers. If the standard deduction is bigger than itemized, fewer people will itemize. This means fewer people will get any tax benefit from donating to charities.
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