Right now the debate on the fiscal cliff is consuming mainstream media and all conversations in Washington, D.C. Deficit reduction, the cliff, and tax reform all have major implications for philanthropy. Here are the three issues the Council on Foundations is watching and will continue to monitor for you in the days ahead.
1. Maintain the [...]
Unlike other tax incentives-for buying a home, installing energy-efficient windows, or buying a fuel-efficient car-the charitable deduction is unique in that it rewards behavior that, by definition, provides no direct benefit to the individual. Whatever options are on the table for tax reform, the tax code should continue to encourage the selfless act of giving [...]