Posts Tagged ‘charitable deductions’

The Obama jobs bill…creates a new battle between the charity world and government.

There’s a lot of commotion surrounding President Obama’s jobs bill. Small businesses, for one, are lukewarm since their concern is less for tax-breaks and more for actual revenues. But the biggest detractors so far may just be charities and those that give to them: the bill proposes eliminating some of the deductions for charitable giving amongst high earners. The jobs bill comes out to a $447 billion price tag, and much of it would be paid for by limiting the tax deductions for charitable giving amongst top earners making $200,000 a year or more. Currently, these earners can deduct 35…

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