The Tax Cuts and Jobs Act that was signed into law on December 22, 2017 was over a thousand pages long. Like previous tax law, the changes are complex and interrelated. In Aspire’s webinar, Discover Gift Opportunities in the New Tax Law with Prospect Research, we primarily covered the income tax changes that might affect your donors and their ability to give or their perception of their ability to make a charitable gift.
At the end of the webinar there were a few questions that went unanswered. We dug a little deeper to find answers for you, which we have presented below.
Does the new tax law have any impact on charitable remainder trusts and charitable gift annuities?
No. There was no change to those or other deferred giving vehicles. On a related note, there was no change to the capital gains tax rate and no change to the rules for gifts of appreciated property, such as stock.
The Aronson Nonprofit Report produced the following article that summarizes this information and more.
Other than the athletic seating deduction are there other elements that impact what benefits nonprofits can offer to donors and what is considered goods and services versus what is fully tax deductible?
I’m going to answer this question with a firm “maybe.” While Aspire’s webinar covered the implications of the new tax law relevant for fundraising from donors, we did not review how the law impacts the rules governing nonprofits.
But I would not leave you without a great resource! The following article from Yeo & Yeo, CPAs and Business Consultants provides a great summary that should do a much better job of giving you the information you seek.
Did you miss the webinar? Click here to learn more or to purchase a recording.
