Nonprofits fear new tax code will slash donations and donor base

Nonprofits fear new tax code will slash donations and donor base

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But because it will double the standard deduction to $12,000 for individuals and $24,000 for couples, charities fear taxpayers won't have the incentive to make donations to lower their tax bill.

"People with more wealth will actually be able to take advantage of it and small to middle income earners will not be able to enjoy that. Therefore, charitable deduction will suffer as a result," said Lisa Maruyama of the Hawaii Alliance of Nonprofit Organizations.

Charity groups estimate loses to non-profits up as much as $13 billion across America next year and a narrower field of potential donors.

Hawaii News Now - KGMB and KHNL

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Hawai`i News Now
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