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For News Nonprofits, the Tax Overhaul Is Bringing New Uncertainty About Future Donations

from Nieman Lab

There are still a lot of open questions about the effects of the tax bill passed in December, but for nonprofit news organizations, the biggest concern is what kind of impact the new law will have on readers' willingness to donate. The new tax law will double the standard deduction to $24,000 for those filing jointly and to $12,000 for single filers. That will lower taxes for many Americans, but it also reduces the attractiveness of the charitable tax deduction. more


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