New tax law exhausts hope for some charities
United Way of Mesa County not too concerned
Some non-profit organizations are worried about new limits on tax deductions affecting donations this year.
On New Year's Day, Congress passed a new tax law that reduces the value of itemized deductions for those with large income.
The new law affects individuals who make more than $250,000 a year, and married couples who make over $300,000 annually.
Charitable donations are starting to rebound from the recession and experts doubt the new tax law will have much of an impact on giving.
KJCT spoke with the executive director for United Way of Mesa County Thursday morning to hear her thoughts on how the new tax law may affect local charities.
"It could certainly have an impact and that could be devastating to our local non-profits, but I've seen Mesa County for 15 years be an incredibly generous and compassionate community, and while the tax deduction is certainly something to consider, I would hope it wouldn't be the primary consideration," said Julie Hinkson with United Way.
Some larger charities fear the new tax law is a sign that charitable deduction is losing its importance and value on Capitol Hill, just as Congress is promising a broader effort later this year to overhaul the tax code.
Local charities are hoping the community will continue to help them provide services to the Grand Valley, and the new tax law won't hinder decisions to donate.
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