ROCHESTER (WXXI) – The changes contained in the GOP tax bill may have an impact on charitable giving in 2018. That’s the word from the President and CEO of the Rochester Area Community Foundation, Jennifer Leonard. She notes that the tax bill proposes nearly doubling the standard deduction, which means millions of people may not itemize, and charities and non profits could take a hit, as a result.
“The estimates range from $13 to $24 billion dollars in prospective losses in charitable giving in 2018 alone,” she said. “Currently, 30 million taxpayers itemize. That may drop to as few as 5 million, and that means those 25 milion people who no longer are itemizing also can’t use the charitable deduction.” Leonard expects a spike in charitable giving now because many people expect their opportunities to deduct charitable gifts next year may be constrained.
Giving Tuesday is a global social event that follows the widely recognized shopping occasions Black Friday and Cyber Monday. #GivingTuesday, November 28, will be a day unlike those buying-oriented days right after Thanksgiving. It’s a way to kick off the charitable season–the season of giving. It’s a day dedicated to getting involved in your local community. Whether it’s a donation of your time, money, or voice, we hope everyone will take part and give towards the organizations that are changing the community for the better.
Talking to kids about charity can be tough, but research shows that talking about charity is more effective than role-modeling. PBS Parents presents Adventures in Learning with Jennifer Cooper! https://youtu.be/p29dKpHnPjQ
THE SET UP
Talking Points: Kids often operate from a center of self so talk to them about how their actions will affect others. For instance saying, “When we raise money for this charity, the money will go to kids who need medicine so they will get healthy” will have more of an impact than, “because it’s the right thing to do.” Both are true, but one helps frame it in a relatable way. Keeping the Conversations Rolling: Bob Stains, from The Family Dinner Project offers these conversation starters to help inspire fun, thoughtful conversations about giving.