Tax reform could affect charitable giving

Tax reform could affect charitable giving

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A Colorado Nonprofit Association analysis of 2015 Colorado tax data suggests that most Colorado taxpayers with incomes under $200,000 will save more on taxes by taking the increased standard deduction, leaving no federal tax benefit for them to increase their giving. These taxpayers contributed $1.8 billion of the $3.9 billion given in Colorado. Thus, Colorado's charitable giving could be reduced by as much as $250 million per year.

Source Name: 
Vail Daily
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