Some Pointers For Stressed And Distressed Charitable Orgs
By James Vincequerra and Gerard Catalanello (February 15, 2018, 12:26 PM EST) -- There is speculation that one unintended consequence of the recently passed Tax Cuts and Jobs Act is that there will be less charitable giving in 2018 and beyond.[1] While the newly passed tax law does not change in any material way the deductibility of charitable donations, the thinking is that the near doubling of the standard deduction for individuals will indirectly result in a disincentive to charitable giving for those taxpayers who will no longer itemize their deductions.[2] While the more dire predictions may be overblown, it is only sensible for the directors and administrators of not-for-profit charitable organizations to consider the potential for a statistically significant reduction in donations for 2018 and beyond, and plan accordingly....
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