The Tax Cut and Jobs Act was the most sweeping overhaul of the U.S. tax system in more than 30 years. Will it doom your nonprofit? Will it stimulate the economy and be a fundraising boon? We will explore all this and more in Philanthropy and Tax Reform for 2018.
Yet after the New Year’s Eve revelry died down, the champagne dried up and the hangovers ran their course, a suddenly sober nation got to thinking, “What did we just do?” In fact, a poll showed 55% of Americans oppose the new tax law.
Some experts predict charitable donations — including planned giving — will take a huge hit.
Should we expect a big drop in bequest revenue?
So, now what? Are you going to see major funding sources drop faster than a politician’s approval rating? Or will this stimulate the economy and be a boon for fundraisers?