
The Big Winner in Biden’s Tax Proposal: Nonprofits With Planned Giving Programs
By Tony Martignetti The Biden administration has been pitching the President’s new tax plan as a boon for nonprofits – since it is likely to inspire wealthy Americans to give more of their assets to charity to offset their tax bills. But perhaps the biggest benefit of the President’s plan would come to nonprofits that have extensive Planned Giving programs – especially those that offer vehicles that provide income to the donor. Here’s why: Biden is proposing increasing income taxes on those earning more than $400,000 annually, while also increasing capital gains taxes to the same maximum rate of 39.6