How a Simplified Tax System Under Trump Could Hurt Nonprofits

If Drumpf commits to overhauling the tax code then nonprofits will be affected, according to Marc M. Stern, an estate planning partner at Greenberg Glusker: 

Nonprofit organizations might see their end-of-the-year influx of donations dry up in years to come if Trump makes good on his proposal to cap itemized deductions for individuals at $200,000. Current rules allow deductions of up to 50 percent of adjusted gross income with the ability to carry over the unused portion of that deduction for five years.

For more on the potential for a tax system under Trump in which exotic accounting methods to reduce tax burdens will not be needed, click here.

Jiminian Law PLLC is devoted to helping clients form and manage their nonprofits and address issues that arise with them.  With nonprofits matters, it is always best to be pre-emptive by crafting and implementing a great nonprofit business plan.  That is where I can come in, helping your nonprofit get on the right path from the get-go. Providing knowledgeable and effective consultation and representation are the keys to my success. Danny Jiminian, Esq. is available for a free consultation if you call him at 917.388.3574 or 929.322.3546 or email him at danny@djimlaw.com.