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.
LATEST STORIES DepEd’s Taal challenge: 30K students displaced CONCERNS: Sexton is capable of hitting from outside, such as when he hit six 3-pointers against Auburn and had five other games with at least three made 3s. The trick now is becoming a more consistent threat after making just 34 percent (44 of 131) for the season.SHAI GILGEOUS-ALEXANDERKentucky’s latest one-and-done talent wasn’t the Wildcats’ top recruit but thrived after becoming a full-time starter in January to make himself a possible lottery selection.STRENGTHS: He offers good size at the point after checking in at 6-6 at the combine with a nearly 7-foot wingspan. And he improved as the year went on, averaging 16.4 points, 5.7 assists and 4.6 rebounds after becoming the starter. He also shot 40 percent from 3-point range on the year.CONCERNS: He’ll need to add bulk to a lean 180-pound frame to handle physical play both on the perimeter and driving to the rim.OTHERS TO WATCH:— JALEN BRUNSON: The Associated Press national player of the year doesn’t have eye-popping athleticism, but he’s a steady and efficient performer who led Villanova to a second NCAA title in three seasons. The junior is a potential first-round pick.— JEVON CARTER: West Virginia’s floor leader and two-time Big 12 defensive player of the year could sneak into the first round.— TREVON DUVAL: After one year at Duke, he is likely a second-round pick with good athleticism (third at the combine in max vertical leap at 41.5 inches) but a suspect outside shot (29 percent on 3s).— AARON HOLIDAY: The UCLA junior is a first-round prospect and seems next up after the trio at the top. He was the Pac-12′s leading scorer (20.3 points) while averaging 5.8 assists, though he’s a bit undersized (6-1, 187). MOST READ In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ STRENGTHS: The 6-foot-2, 178-pound Young averaged 27.4 points and 8.7 assists while putting up his share of eye-popping numbers, including four 40-point games and a Division I record-tying 22 assists against Northwestern State. He ranked fourth nationally in 3-pointers per game (3.69) and can score in bunches from anywhere, positioning him to thrive in the NBA’s free-flowing game.CONCERNS: All the offensive stats were often fairly empty down the stretch as Oklahoma lost 13 of 18 before squeaking into the NCAA Tournament for a first-round loss. Young wasn’t the most efficient scorer; he was in the top four nationally in both overall shots and 3-pointers attempted but the percentages weren’t great (.422 on field goals, .360 on 3s) while he also led the nation with 167 turnovers. He also had the smallest wingspan (6-3) of players at the combine and could stand to get stronger to handle physical pro defenders.COLLIN SEXTONSexton led Alabama back to the NCAA Tournament for the first time since 2012.STRENGTHS: Athleticism — the 6-2, 183-pound freshman has plenty of it. He averaged 19.2 points while shooting nearly 45 percent, offering a quick first step and the aggressive edge needed to get to the rim. He had a solid floor game with 3.8 rebounds and 3.6 assists per game. And while a similar height to Oklahoma’s Young, Sexton has a bigger wingspan (measuring a bit over 6-7 at the combine).ADVERTISEMENT Winfrey details her decision to withdraw from Simmons film Steam emission over Taal’s main crater ‘steady’ for past 24 hours Own-goal earns Iran 1-0 win over Morocco at World Cup Young is expected to be the first point guard chosen Thursday, while Sexton could join him as a top-10 pick.Here’s a look at the top prospects:FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownTRAE YOUNGYoung’s scoring and playmaking ability drew comparisons to three-time NBA champion Stephen Curry. Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award China population now over 1.4 billion as birthrate falls Jury of 7 men, 5 women selected for Weinstein rape trial Sports Related Videospowered by AdSparcRead Next Dave Chappelle donates P1 million to Taal relief operations View comments Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew FILE – In this Jan. 30, 2018, file photo, Oklahoma guard Trae Young (11) heads up the court with a steal against Baylor during the second half of an NCAA college basketball game in Norman, Okla. Young is projected as a likely top-10 pick in next week’s NBA draft. (AP Photo/Sue Ogrocki, File)There’s little question about where to start when looking at the top point guard prospects in the NBA draft: Trae Young and Collin Sexton.Young was the national leader in both scoring and assists with the Sooners as a freshman, while Sexton provided an aggressive presence at the helm of the Crimson Tide’s attack in his only year at Alabama.ADVERTISEMENT Don’t miss out on the latest news and information. Volcano watch: Island fissures steaming, lake water receding