Fiscal Cliff Could Have Posed Problems For CharitableTax Deduct - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Fiscal Cliff Could Have Posed Problems For CharitableTax Deductions

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Charitable tax deductions could have become a thing of the past, as the fiscal cliff was causing major concern in the non–profit community.

At the United Way in Kearney, organizers were bracing for a rush of last minute donations, but that didn't happen.

As for next year, non-profits were concerned about how the fiscal cliff could affect charitable giving in the future.

Officials say the government is looking at spending priorities a bit differently.

"We could be at a very big disadvantage if the charitable giving deduction is reduced and we have a lesser ability to raise money to provide those services," said Kearney United Way Executive Director Lisa Parish. "It would kind of be a double whammy on the nonprofit sector."

Parish adds that for most people, the tax deduction is not the primary reason for giving and most people will continue to give no matter what.

 

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