The new tax laws and non-profits

Concerned about the new tax laws and how they affect your non-profit? Howard Gleckman at Forbes who covers tax, budget and retirement policy from Washington outlines the following, here are some of the key highlights:

• only 8 percent of households will take the charitable gift deduction in 2018, compared to 21 percent last year
• only 5 percent of middle income households will deduct their gifts 2018 in comparison of 16 percent in 2017
• in 2017, three-quarters of those in the 90th to 95th income percentile (who made between about $220,000 and $315,000) claimed the deduction. After the TCJA, one-third will deduct their charitable gifts

For the full article click on this link: https://www.forbes.com/sites/howardgleckman/2018/10/22/will-the-tcja-upend-the-non-profit-world/#50f6bf9160ce