Charity & Taxes

As we move closer to a major (or allegedly major) overhaul of our tax code, some are raising red flags that this might have a significant impact on the Church, namely in the realm of charitable giving.

Currently donations given to churches and other non-profit entities are tax-deductible if you itemize deductions.  But the new tax code may reduce the overall benefit of itemizing by increasing the standard deduction.  The net result could be lower incentive to give to charities for a tax benefit, and overall lower donation levels.

So would you give even if you weren’t getting a tax write-off for it?

 

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