Limiting Charitable Tax Deductions – Smart or Harmful? (as reported by Mark P. Cussen via investopedia.com)

In response to the fiscal cliff and the push to increase revenue, politicians in and out of the White House have offered proposals that would limit or eliminate the itemized deductions for the wealthy. This could be problematic as both upper and middle class taxpayers use charitable contribution deductions to reduce their tax bills. The charities that rely on such donations are also against such proposals. To find out more about how these proposals could affect both taxpayers and charities, read the full article here.

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