An Offer. Response to a Cry for Help.

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Charities Struggle as Revenue Dries Up

 

This is to what I am responding.

I would love to blame it on the pandemic.  Oh, sure, the pandemic has led to tremendous  assaults on food banks, homeless shelters, and the like.  Nearly 40 million folks are now jobless.  And more than 40% of those made $ 40,000 a year or less have lost their jobs.  Folks who couldn’t come up with $ 400 for an emergency BEFORE they lost their jobs.  Now?  Yeah, just kidding.

The biggest cause of this situation is the Tax Cut and Jobs Act (sic), the ridiculous TCJA tax cut enacted contiguous to Christmas 2017, affording the rich and big business outrageous reductions in taxes.  While royally screwing the middle class.   And, charities.

Why charities?

Because in their desperation to ‘get even’ with Democratic-leaning states, the GOP changed the structure of itemized deductions.  Prior to 2018, every taxpayer had a $ 6000 standard deduction (which meant marrieds had $ 12000).  If one owned a home, the odds were one was going to itemize deductions, because between the mortgage, the property tax on the home, and the state income tax, it was a breeze to exceed the standard deduction.   And, then, it was an easy decision to part with some money for charitable needs- because those funds would be deductible.

Sure, it still cost 70 cents on the dollar to give that charity.  But, the fact that the feds and the states partially subsidized the donations made it easier for most folks to feel they can help those less fortunate souls.

Once the TCJA took hold, there was no exemption of $4K+ per member of the family and no standard deduction- it was all lumped into a new deduction of $12K (single) or $ 24K (married).  Now, the threshold for itemizing doubled.  As if that weren’t enough of a disincentive for charity, the GOP further damaged the situation by outlawing ALL property/state/local tax deductions that exceeded $ 10,000.

So, poof!  Charitable deductions were decimated.  OK.  They weren’t cut by 90%- but substantial reductions in charitable donations have ensued.

My heart breaks every time I think about this.  I worry that I am becoming depressed because of this situation.  Instead, I am leading  my company to respond to this situation.

Here’s the deal.

Between now and the 14th of July, we will complete your income taxes for the fees listed below.  Our goal is to to help you pay the lowest amount of taxes required by law.  At reasonable fees.

Note that not all scenarios are listed, but the list gives you an idea of the fees that we will charge to complete your taxes.

But, that’s not the whole story.

25% of every fee paid will be donated to the charity of your choice. Oh, wait.  That’s not quite true.  Your choice has to be among the Charity Navigator 4 Stars.   No matter what the policies, what the politics.  If it’s on the 4 Star list, that charity uses the money given for  their quoted goals.  Not for the good of the directors.  If you don’t specify one, we’ll choose one of our favorites. (There are four.)

You’ll also notice that besides preparing taxes, our offer includes analyzing your 2019 federal tax forms (which assumes you’ve already filed) with recommendations as to what you can do to ensure that you, too, can pay the lowest amount of taxes required by law and to protect your assets in the future.

2020 pricingThat’s our premise- and our promise to you and the world.  Let’s make the world just a little bit better.

The Western Wall

By the way, today is Yom Yerushalayim.  The day that Jerusalem was again united.  53 years ago, it again became possible for folks like me to pray at the remaining wall of the Great Temple- the one built by Solomon and rebuilt by Herod.  (The wall has stones from both retaining walls the surrounded the Temple.)

 

 

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6 thoughts on “An Offer. Response to a Cry for Help.”

  1. That’s a wonderful offer . Your fees seem reasonable. I do wonder about one thing – the four charities you would funnel the charitable portion of the fee to if the customer doesn’t name a 4 star charity they would prefer – I wonder what they are. Just out of curiosity, because I’m thinking you’ve already named them in another post – I just can’t remember.
    Alana recently posted..Spring is Still Spring #SkywatchFriday

    1. No, I have mentioned many a charity, but these four- Philabundance (feeding the hungry in the Philly region), SOME (So Others Might Eat, DC area), Mazon (Jewish response to hunger), and City Harvest (feeding the hungry in NY city) are the ones I have in mind.

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