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Tax change impact on Spokane nonprofits still unclear > Spokane Journal of Business

https://www.spokanejournal.com/local-news/tax-change-impact-on-spokane-nonprofits-still-unclear/
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Mar 14, 2019 10:20 AM 1+ week ago

A panic spread through nonprofits in the Inland Northwest and elsewhere last year after federal tax changes were enacted. The concern: charitable giving would decrease and hamper the organizations' budgets.

Since then, Spokane-area nonprofits have seen varying outcomes. The expected effect was that small nonprofits, those with budgets $1 million and under, would be hit the hardest, while large nonprofits, those with budgets over $10 million, would see an increase. However, that hasn't been the experience of Spokane-area nonprofits--at least not yet.

Last year's implementation of the Tax Cuts and Jobs Act of 2017 limited the number of itemized deductions and increased the standard deduction to $12,000 for singles and $24,000 for couples, almost double what it was in 2017. Consequently, it doesn't make sense for as many people to itemize their deductions now as it did previously, and those taxpayers wouldn't be able to write off expenses they would have in the past, including charitable donations.

The Tax Policy Center and the American Enterprise Institute ...

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