RELATED: House Republicans consider adding some state income tax deductions to overhaul billAs widely reported in the press, the proposed tax “reforms” would essentially double the standard deduction thereby eliminating individual deductions by the vast majority of individuals, particularly including charitable donations.This will profoundly impact all nonprofits in the U.S. likely resulting in loss of billions of dollars of critical funding.This will threaten the survival of many fragile nonprofits and damage the safety net which is largely made up of nonprofits, particularly given government’s devolution of services to local communities.My interests here are first, as father of a permanently disabled daughter named Jennifer, and also as member of the Eastern New York Developmental Disabilities Advocates (ENYDDA). ENYDDA is an independent, all-volunteer organization founded in 2015 to advocate for disabled family members and educate the public on matters pertaining to the developmentally disabled. I am gravely concerned, along with many other parents, with the legislation’s impacts on all nonprofits, particularly including human service providers not only in this area but across the nation. While consulting with a tax professional is always recommended, donors can accelerate or expand their regular contributions or make major donations to the charity of their choice, in this tax year, before Dec. 31, 2017, before any changes in the tax law can take effect.Secondly, given the dramatic rise in the stock market, an opportunity to discuss with a tax advisor is to donate appreciated securities.This not only allows the deduction on the appreciated value but avoids or minimizes capital gains taxes which can be substantial.Such actions may make particular sense to maximize benefit to your favorite charity now– and lock in the tax savings before the next major stock market decline.While these steps can hardly compensate for the substantial damage to charities, donors and society the GOP legislation inflicts, they at least provide some incremental benefit to charities and donors alike, and in the process all communities which depend so heavily on the nonprofit sector and the services it so critically provides.Christopher Corbett is a nonprofit researcher and author of “Accountability and Ethics in Nonprofit Organizations” in the Global Encyclopedia of Public Administration, Public Policy and Governance (2017, Springer International). The views expressed are the author’s alone. More from The Daily Gazette:EDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Beware of voter intimidationEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Thruway tax unfair to working motorists Sure, the government and for-profit sectors are important. But it is the nonprofit sector that is largely responsible for America’s exceptionalism.That is, charities and nonprofits fill in many of the gaps and fulfill roles that neither government, nor for profits, are remotely capable of performing, particularly relating to critical health and human services.As noted by de Tocqueville, such institutions are responsible for our country’s most unique character.Under a substantially increased standard deduction, the vast majority of citizens will no longer be able to deduct charitable donations as they would not likely exceed the dramatically higher standard deduction.Yet nonprofit organizations are responsible for the very fabric of a civilized society and are an essential byproduct of our country’s longstanding freedom of association.Given the timing and partisan back-room dealing, there may be limited actions that can be taken at this point.However, there are steps donors can immediately take to reduce the risks of the new legislation. Categories: Editorial, OpinionAfter reading Albert H. Hunt’s column in The Daily Gazette “Republicans’ haste leading to flawed tax legislation”, (Nov. 30, 2017), my reaction is the column substantially understates the damaging implications of this partisan legislation proposed under President Trump’s administration.The column fails to mention the great harm to charities and the whole nonprofit sector.
24/7 Triathlon UpdatesCaroline Kearney MemorialOn Saturday past 8 athletes from the 24/7 travelled to Loch annell just outside the Westmeath town of Mullingar to compete in the Olympic distance event which was set up as a memorial to one of Irelands most talented up and coming tri-athletes Caroline Kearney who was tragically killed in France in a training accident in 2006. Many believe that she would have gone on to compete at the Beijing Olympics as the first Irish Triathlon Olympian. Almost 300 athletes took part in the event and the Letterkenny club were well represented when the event came to its conclusion just after midday on Saturday afternoon. Alan Mitchell was first home from the club in 8th place in a time of 2.09 and is surly setting himself up for a top 5 finish in the national rankings for his age group come the end of the season, Aidan Callaghan was next home in a time of 2.16 followed by Pauric Kelly 2.28, Padhric Mitchell 2.30, Mark Nicholls 2.34 , Paul O Gara 2.38. Graham Parker 2.44, placing all 24/7 athletes in the top 50% of finishers and many in the top 15 athletes in their respective age groups.On completing the race in 2nd place in the womans category Margret Kelly almost certainly is a shoe in for 1st in her age group come the end of the national series in September, improving on her third place in last years series.Gartan TriathlonThis coming Saturday the 20th will be a very special day for the young Letterkenny club as it hosts it first triathlon in Gartan and the surrounding area of Churchill on the outskirts of Letterkenny. The event kicks of at 10 a.m and the club would urge the local people of Letterkenny and Churchill to come a show their support to the athletes taking part in the event. IronmenThe club would also wish congratulate another one of it’s members, Alan O Mahony on completing Ironman U.K recently in Bolton, England. In what is a very tough event and a course which is not for the faint hearted either, Alan did himself very proud completing the event in just over 12 hours. That’s now three Ironmen in this small club, with another 3 athletes taking part in the Half Ironman in Galway in September, the future looks bright for the club with people wishing to take on the challenge of triathlon.TRIATHLON: 24/7 CLUB NOTES was last modified: August 15th, 2011 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:TRIATHLON: 24/7 CLUB NOTES