Fewer reductions could lead to less donations
If we go over the fiscal cliff, analysts say our taxes are going to go up. It also appears as if Itemized deductions, like those for charitable donations, are going to go down. Chris Kleinert is a charity expert and told KTRH that charities could be affected by the cliff next year.
“I suspect that if there is some kind of cap there would be a modest reduction,” Kleinert told KTRH.
Kleinert says people are already thinking about their plans for charitable donations in 2013.
Kleinert explained that, “I think there’s a lot of uncertainty as to how individuals want to figure out where and when do they want to give.”
So organizations like the Red Cross in Houston are getting ready. Cameron Ballantyne told KTRH it's all about getting the message out.
“We want to make sure that people know what the Red Cross does and our role in their community and to be able to tell the Red Cross story through the media or through the actions of our volunteers. We want to make sure people know what we do,” Ballantyne explained.
Ballantyne says if we go over the cliff and you can't donate money, you can donate your time.
“One of the best ways to help us is to volunteer. Go to our website, fill out an application and join us as one of our volunteer staff.
A recent survey conducted by Bank of America found that a majority would keep giving to charity even if deductions are eliminated.