Fiscal Cliff Deal Preserves Charitable Deduction

CASE - United States: Fiscal Cliff Deal Preserves Charitable Deduction

Last night, the U.S. House of Representatives passed fiscal cliff legislation that preserves the charitable deduction and extends the estate tax and IRA charitable rollover. President Obama is expected to sign the bill into law.

U.S. should not reduce the rich's tax incentive to give to charity | NJ.com

U.S. should not reduce the rich's tax incentive to give to charity | NJ.com: I understand the president’s ongoing objective here: He is attempting to level the playing field such that individuals and families of all income levels can give to charity and receive equitable tax benefits. Although equity is a laudable goal in other areas, shouldn’t the objective of philanthropy instead be to maximize revenue paid to the social sector, thereby better capitalizing charitable organizations that seek to help our society’s most vulnerable?

Instead of reducing the tax incentives (or any incentives) of charitable giving, every effort should be made to incentivize wealthy Americans — those who can afford to give generously — to continue donating to tax-exempt organizations of their choice, especially those charities providing services to the needy.