In a quest to raise revenue some states have proposed eliminating tax benefits to nonprofit organizations, including a common rule that exempts nonprofits from paying property taxes on real property (particularly real estate). What are the consequences of this choice? Argue both sides. Why should the special treatment like this stay? Why should it be removed?
Expert Answer
Republican tax bill will double the tax deduction for individuals, and, couples to $12000, and, $24000 respectively. This will reduce the incentive to donate, as donors cannot, in this case, itemize their deductions on their tax returns. As of now, contributors
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