Charitable giving has gone down since donations are no longer allowed as a separate tax deduction and are included in the standard deduction. Many people who give charitably do not exceed the amount of the standard deduction. We should encourage charitable giving by making it a separate standalone deduction.
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I agree ! Probably a max amount such as $2500 or $5000 so that smaller donors can get a benefit as well. This would need to be cash not non cash items such as goodwill , there is too much subjectiveness on value of items .
A taxpayer probably
Has to donate $10k plus to see a benefit from the standard deduction.
As a tax preparer I know that many middle class families would benefit from this . It makes them feel good to get a tax benefit. It is hard to tell someone that donated a few hundred to a few thousand dollars that it literally did them know good. I have to think that it hurts charities as well.
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