YOU CAN NEVER HAVE TOO MUCH SALT The new federal tax bill signed into law last month will affect New York State particularly hard. Governor Cuomo and New York law makers are searching for ways to mitigate the effect on tax payers. The new tax bill places a cap on the state and local tax (SALT)…
New Tax Law Affects Nonprofits The new tax law is quite lengthy and will require some time to review and analyze. However, the following provisions have been identified as having an effect on public charities. Increased standard deduction. The standard deduction is increased to $24,000 for married individuals filing jointly, $18,000 for head-of-household, and $12,000…
Tax Law Changes Will Seriously Impact Nonprofits and the Rest of Us Last week I attended the annual board retreat of NYCON, the New York Council of Nonprofits. There was considerable discussion of the pending tax bill in Congress. According to New York State Comptroller DiNapoli, federal spending in New York during 2016 included $55…
