A deal to avoid the so-called "fiscal cliff" may have been reached, but the debate over how the resolution will affect charitable giving rages on.
Legislation passed by the Senate late Tuesday night will limit the amount wealthy people can claim for charitable deductions on their taxes. While some say donors shouldn’t be motivated by the amount of money they can write off, others –- including some nervous nonprofits –- argue that tax breaks for charitable giving should have been left untouched in the deal.
Source: Huffington Post. Read full article. (link)