Heard on the Web: White House Rethinks Tax Hikes

Heard on the Web: White House Rethinks Tax Hikes

News story posted in Executive on 5 March 2009| 2 comments
audience: National Publication | last updated: 18 May 2011
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Summary

According to a report in The Wall Street Journal, President Obama is open to revising his proposed plan to cap breaks on mortgage interest and charitable donations.

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Click here to go the Wall Street Journal online.

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Rangel to Hold Hearings

HW&M Chair Charles Rangal said on March 10th he is concerned about the effect of the itemized deduction cap on charities and plans to hold a hearings.

Reducing Charitable Deductions

I don't understand why in the discussions about this new proposed cap no one has mentioned that chartiable deductions are already limited by the 30% and 50% of AGI annual limitations? How many of us have calculated for a donor how much they can give this year and be able to fully use the deduction over the 6 year period? This has been a driver for how much was given in many CRTs where I was the planner. Kathleen Bryan

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