Cre8tive Philanthropy

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Investment and innovation in the for-profit social impact community.

Obama’s charitable deduction reduction back on the table for 2011…

Many givers of time and money do so because they care about a cause, not for the tax breaks. Yet, it is unclear, particularly in a time of dwindling resources, rising taxation, and a challenging economic environment, what would happen to charitable gifts should the charitable tax deduction become less favorable. Some believe it’s not so bad, others think it is irresponsible.

New York just passed a law limiting charitable deductions for its wealthy. Perhaps the Obama administration should see how the changes in NY play out before gambling with the health of the nation’s charitable sector.

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Filed under: Challenges, Charitable Tax Laws, Philanthropy

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