Salinas, CA Charitable Donation Deduction Still In Question For High Income Earners: View From A Non
Salinas, CA Charitable Donation Deduction Still In Question For High Income Earners: View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California
With just more than a week left in the year, politicians still haven't come to a compromise on balancing the budget, and executives at non-profits are extremely nervous about the potential for cutting the tax exemption for donating money to non-profits. If it happens, it's likely to be applied only to very high income households. However, these are just the types of homes which can most afford charitable giving and cutting their tax deduction could have a dire impact on many non-profits. In 2010, only 32% of Americans itemized their deductions. Of these, however, 82% (about 38.3 million of us) gave money to charity. Those deductions totaled a whopping $170 billion in 2010. The White House Fiscal Commission's 2010 report proposed a 12% non-refundable tax credit for all taxpayers donating to charity, including high-income earnings. That compares to the current 35% top tax rate. Let's hope this doesn't happen. If charitable deductions are phased out for high income earners it will hit food banks, hospitals, schools and myriad other institutions. If you can afford to give this year, of course, we hope you will give to Hands To Help Seniors! I am proud that we were chosen by Monterey County Weekly as one of the charities highlighted in their annual Monterey County Gives program. If you can afford to give, please donate via the below web site as there are matching funds available via this great program. The way it works is, there is $100,000 in matching funds, and it will be divided pro-rata amongst the participating organizations based on how much they raise. So please help us stay in the top ten fundraisers by clicking here.
http://www.usatoday.com/story/news/nation/2012/12/09/charitable-deduction-lobbying/1750943/
http://www.mcgives.com
About Richard Kuehn & Hands to Help Seniors:
After more than a decade of caregiving, both in a professional environment and for a 97 year old family member, it became clear to me that there are many seniors that can't afford to pay for a private duty caregiver, not to mention medical expenses, food and property taxes on their home. I decided to form a non-profit to help seniors with any service they might need to get by, should they be unable to afford this themselves. From putting on a new roof to providing a hot meal, Hands to Help Seniors is there to help. Please visit my blog where I talk about important senior issues at:
http://www.h2hs.org/news-and-media.html
Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands To Help Seniors and the individual members comprising the Board of Governors.
With just more than a week left in the year, politicians still haven't come to a compromise on balancing the budget, and executives at non-profits are extremely nervous about the potential for cutting the tax exemption for donating money to non-profits. If it happens, it's likely to be applied only to very high income households. However, these are just the types of homes which can most afford charitable giving and cutting their tax deduction could have a dire impact on many non-profits. In 2010, only 32% of Americans itemized their deductions. Of these, however, 82% (about 38.3 million of us) gave money to charity. Those deductions totaled a whopping $170 billion in 2010. The White House Fiscal Commission's 2010 report proposed a 12% non-refundable tax credit for all taxpayers donating to charity, including high-income earnings. That compares to the current 35% top tax rate. Let's hope this doesn't happen. If charitable deductions are phased out for high income earners it will hit food banks, hospitals, schools and myriad other institutions. If you can afford to give this year, of course, we hope you will give to Hands To Help Seniors! I am proud that we were chosen by Monterey County Weekly as one of the charities highlighted in their annual Monterey County Gives program. If you can afford to give, please donate via the below web site as there are matching funds available via this great program. The way it works is, there is $100,000 in matching funds, and it will be divided pro-rata amongst the participating organizations based on how much they raise. So please help us stay in the top ten fundraisers by clicking here.
http://www.usatoday.com/story/news/nation/2012/12/09/charitable-deduction-lobbying/1750943/
http://www.mcgives.com
About Richard Kuehn & Hands to Help Seniors:
After more than a decade of caregiving, both in a professional environment and for a 97 year old family member, it became clear to me that there are many seniors that can't afford to pay for a private duty caregiver, not to mention medical expenses, food and property taxes on their home. I decided to form a non-profit to help seniors with any service they might need to get by, should they be unable to afford this themselves. From putting on a new roof to providing a hot meal, Hands to Help Seniors is there to help. Please visit my blog where I talk about important senior issues at:
http://www.h2hs.org/news-and-media.html
Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands To Help Seniors and the individual members comprising the Board of Governors.