January 25, 2009
Three Tax and Economic Stimulus Proposals to Aid Charities
A recent op-ed in the Chronicle of Philanthropy set forth three tax proposals to aid charities:
- Allow people to claim a double deduction for any increase in the amount they give to charity this year and next.
- Expand the number of people eligible to give charities money from their individual retirement accounts without paying taxes.
- Make grants of $3,000 to charities for each new job they create.
I've not seen details of Obama's economic stimulus plan yet so I can't say whether there are provisions specifically designed to stimulate and/or rescue the nonprofit sector. If anyone has a link to the detailed proposal please send it in!
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