The Effect Of The Capital Gains Tax On Donations Of Cash And Appreciated Assets
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The Effect Of The Capital Gains Tax On Donations Of Cash And Appreciated Assets
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Author :
language : en
Publisher:
Release Date : 2006
The Effect Of The Capital Gains Tax On Donations Of Cash And Appreciated Assets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Elements of the tax code can affect an individuals decision to contribute to charity by altering the price of donating. The capital gains tax reduces the price of giving appreciated assets relative to giving cash, suggesting that reductions in the capital gains rate should lead to decreases in the donations of appreciated assets relative to cash, while increases in the capital gains rate should lead to increases in the donations of appreciated assets relative to cash. In this study, OLS models are applied to pooled aggregate individual income tax data from the IRS for tax years 1981-2003 to estimate the relationship between the ratio of noncash donations to cash donations and the ratio of the price of donating appreciated assets to the price of donating cash. The results indicate that only high income donors respond to changes in the capital gains tax rate by changing the composition of their charitable contributions. Since high income donors contribute more than any other income group to charities, and some charities may prefer cash donations to donations of appreciated assets, changes to the capital gains tax rate should not be made without considering the potential impact on charities.
How Does Charitable Giving Respond To Incentives And Income
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Author : Jon M. Bakija
language : en
Publisher:
Release Date : 2008
How Does Charitable Giving Respond To Incentives And Income written by Jon M. Bakija and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Charities categories.
We estimate the elasticity of charitable giving with respect to its price and after-tax income using a panel of over 550,000 disproportionately high-income tax returns spanning the years 1979 through 2005. Improvements relative to the previous literature include: using state tax variation to help identify our model while controlling for both individual- and time-specific unobserved heterogeneity; carefully dealing with expectations; allowing people at different income levels to have different degrees responsiveness to taxation and different time paths of unobservable influences on giving; and using a measure of charitable giving that more closely approximates current donations. To address the omitted variable bias that would otherwise arise from failing to control for unobservable expectations of future prices and future incomes, we use predictable changes in future federal and state marginal tax rates and tax liabilities, arising from their pre-announced and phased-in nature, as instruments for future changes in prices and income. Our estimate of the elasticity of giving with respect to a persistent price change for the full sample is about -0.7; this elasticity is generally larger when the sample is limited to high-income people and we control for time-varying unobservable influences on charity in a flexible fashion. We find some evidence, particularly among very high-income people, of re-timing giving in response to expected future changes in price, but this finding is sensitive to the source of identification for the price effects. Our estimates are broadly consistent the permanent income hypothesis. Expenditures on charitable giving are estimated to respond more strongly to persistent changes in income than to transitory fluctuations in income. Moreover, we find evidence in some specifications that people will increase their charitable giving now in response to a predictable reduction in future tax liability arising from tax reform.
United States Code
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Author : United States
language : en
Publisher:
Release Date : 2001
United States Code written by United States and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Law categories.
Individual Retirement Arrangements Iras
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Author : United States. Internal Revenue Service
language : en
Publisher:
Release Date : 1990
Individual Retirement Arrangements Iras written by United States. Internal Revenue Service and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Individual retirement accounts categories.
Estimates Of Federal Tax Expenditures
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Author : United States. Congress. Joint Committee on Internal Revenue Taxation
language : en
Publisher:
Release Date : 1976
Estimates Of Federal Tax Expenditures written by United States. Congress. Joint Committee on Internal Revenue Taxation and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Tax expenditures categories.
Charitable Giving And Tax Policy
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Author : Gabrielle Fack
language : en
Publisher: Oxford University Press
Release Date : 2016
Charitable Giving And Tax Policy written by Gabrielle Fack and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
A comparative and historical analysis of tax policies towards charitable giving in different countries that considers whether public policies actually boost private philanthropy.
Basis Of Assets
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Author : United States. Internal Revenue Service
language : en
Publisher:
Release Date :
Basis Of Assets written by United States. Internal Revenue Service and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Charitable Giving And Tax Policy
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Author : Gabrielle Fack
language : en
Publisher: Oxford University Press
Release Date : 2016-09-01
Charitable Giving And Tax Policy written by Gabrielle Fack and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-01 with Business & Economics categories.
Over the past couple of decades, differentials in the level of private contributions to charitable organizations have become a central matter of public policy. Because private charitable contributions finance many socially valuable activities (for example, education and the arts), many governments have tried to boost private philanthropy through various active policy interventions. Furthermore, the temptation to rely on private contributions to finance the provision of public goods has increased substantially in recent years as fiscal constraints have become tighter. Yet there is little robust quantitative evidence regarding the differentials in private charitable giving across countries, and more importantly very little consensus on why these differentials may exist. This volume provides an original, comparative, and historical analysis of charitable giving and of tax policies towards private philanthropy across different countries. It sheds new light on the determinants of private philanthropy and offers interesting practical insights for improving tax policies towards charitable giving.
Special Behavioral Studies Foundations And Corporations
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Author : Commission on Private Philanthropy and Public Needs
language : en
Publisher:
Release Date : 1977
Special Behavioral Studies Foundations And Corporations written by Commission on Private Philanthropy and Public Needs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Charities categories.
Nonprofits Government
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Author : Elizabeth T. Boris
language : en
Publisher: The Urban Insitute
Release Date : 2006
Nonprofits Government written by Elizabeth T. Boris and has been published by The Urban Insitute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
The past several decades have seen unprecedented growth in the scope and complexity of relationships between government and nonprofit organizations. These relationships have been more fruitful than many critics had feared and more problematic than many advocates had hoped. Nonprofits and Government is the first comprehensive, multidisciplinary exploration of nonprofit-government relations. The second edition of this important book is fully updated and includes two new chapters. The authors address a host of important issues, including nonprofit advocacy, direct regulatory and tax policy, the conversion of nonprofits to for-profits, clashes in government interaction with religion and the arts, and international nonprofit-government relationships. Practitioners, researchers, and policymakers alike will benefit from the authors' wide-ranging discussion.