The debate has raged for years. Are Donor Advised Funds spurring unprecedented philanthropic giving? Or do they simply allow the wealthy to amass immediate tax benefits while delaying the transfer of funds to working charities ...
The Biden administration’s proposal to increase the minimum tax rate for the very wealthy to 20% could spur more charitable giving, philanthropy experts say, as the rich seek ways to avoid paying taxes on stocks ...
Many of the rich want things to stay just the way they are, but a group called Patriotic Millionaires says the rich should pay their fair share to help reduce rapidly-rising economic disparities.
The richest pastor in America pays no property taxes on his 18,000-square-foot Texas mansion thanks to a loophole in the state tax code, The Houston Chronicle reported.
The former business manager of a Pittsburgh church was sentenced to 30 months in federal prison April 6 on tax charges connected with a $1.2 million embezzlement case.
Giving to nearly 2,000 churches and charities affiliated with the Evangelical Council for Financial Accountability was $14.4 billion in 2018-2019, up 1.5 percent over the previous year, according to the new report, “State of Giving: ...
Congress is considering additional relief. The new bill, labeled CARES 2.0, is being pushed by Democrats with House Speaker Nancy Pelosi (D-Md.) already planning beyond the next relief package and House Minority Leader Kevin McCarthy (R-Calif.) ...
The CARES Act made its way to the oval office Friday afternoon, where President Donald Trump signed the Covid-19 economic stimulus package, dispensing $2.2 trillion of relief to businesses, nonprofits, workers and families across the ...
More ministries opting to call themselves a "church" or "association of churches"
The value of non-profits is so great that our tax code treats them in a special way. Donors can deduct gifts to non-profits. The non-profits themselves are exempt from most taxes. In fact, what most of us ...
A client recently brought to my attention a website article that said that churches should not be “501(c)(3) corporations.” It contained dire warnings about Big Brother muzzling the church if it becomes a 501(c)(3) organization. In this article, ...