When I donated and when I stopped donating had nothing to do with deductions.
The rich need to pay their share is what I'm hearing
Not even saying I disagree with it, just wondering how much this is going to fuck up season tickets next year. Tickets that cost $500 plus a mandatory $750 donation are now $600 more expensive since the $750 is no longer deductible.
You seem to need some help. A deduction from your taxes simply makes that money non-taxable. So a $750 donation, where $600 was previously non-taxable, does not cost you $600; it costs you the taxes you would owe on the $600. Unless your are FS, you are not paying 100% of your income to the federal government, so, at most, you are probably losing $200 at a 33.33% tax rate ... suggesting your make approx half a million per year.
That being said I don't think that is your tax bracket. HTH.
All that being said ... everyone who thinks they are saving money with this tax bill is going to be surprised in a couple of years when the rates revert and they have lost a good portion of their deductions.
