Tax Notes has published an article by Fred Stokeld discussing a recent study regarding the Obama administration's proposal to cap the charitable deduction at 28 percent for individuals earning more than $200,000 and families earning more than $ 250,000 and raise the top marginal tax bracket to 39.6 percent for those taxpayers. According to the article, the proposal will cause a decline in charitable giving and Congress should consider alternatives that would bring in revenue while encouraging charitable giving.
See Fred Stokeld, "Proposed Charitable Deduction Cap, Higher Rates Would Decrease Giving, Panel Says," 2011 TNT 224-6 (Nov. 21, 2011).
Posted by Brian Spring, Associate Editor, Wealth Strategies Journal.
See Fred Stokeld, "Proposed Charitable Deduction Cap, Higher Rates Would Decrease Giving, Panel Says," 2011 TNT 224-6 (Nov. 21, 2011).
Posted by Brian Spring, Associate Editor, Wealth Strategies Journal.
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