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Home > California lags other high-tax states on state and local deduction workaround

California lags other high-tax states on state and local deduction workaround

May 18, 2018 Publication: San Francisco Chronicle | Posted in:
Tags: 
California
SALT
State and Local Taxes
Tax Reform
State Associations in the News [1]

But the plan also could increase contributions if a person who previously gave $200 now gives $10,000 to get a tax credit. In this case the charity would be ahead by $800.

The California Association of Nonprofits has endorsed the bill. Jan Masaoka, the association’s chief executive, said the former scenario is a risk, but “we hope that people who are making donations (to get a tax credit) realize what they are doing” and would make sure the charity is not worse off.

A bigger concern, she said, “is that these various workarounds will confuse the difference between making a donation to a nonprofit for the public good and making a donation that is really a tax workaround. We are always concerned about any kind of confusion around the word donation.”

Source Name: 
San Francisco Chronicle
Source Link: 
https://www.sfchronicle.com/business/networth/article/California-lags-ot... [2]

Source URL: https://www.councilofnonprofits.org/article/california-lags-other-high-tax-states-state-and-local-deduction-workaround

Links
[1] https://www.councilofnonprofits.org/article-categories/state-associations-the-news
[2] https://www.sfchronicle.com/business/networth/article/California-lags-other-high-tax-states-on-state-12927228.php