How the federal tax bill could affect Minnesotans

How the federal tax bill could affect Minnesotans

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John Pratt, executive director of the Minnesota Council of Nonprofits, said increasing the standard deduction could cut in half the number of people who will itemize their tax returns. Itemizing is when taxpayers detail tax deductions beyond the standard deduction.

“It doesn’t necessarily affect what (charities) they give to, it affects the amount they give,” Pratt said.

He’s also concerned eliminating the tax on large estates will mean fewer wealthy families will donate large sums to charities and foundations to limit their tax liability.

Finally, Pratt says plans to eliminate the “Johnson Amendment,” a provision on prohibiting nonprofits from political endorsements, could further inject politics into the philanthropic world.

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Pioneer Press

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