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7 On Your Side: New tax laws affect charitable giving

Goodwill Donation Center on Glebe Road (ABC7)

Cars lined up around the building of the Goodwill Donation Center on Glebe Road as people looked to donate in time for the 2018 tax year.

“It’s just a really great opportunity and every little bit for tax season really helps,” said Teresa Rusin as she donated Monday afternoon.

“We will put it in our taxes, but we do this about every two to three months: look around and decide what we need to be keeping and what we don’t need,” said Judith Fulp-Eickstaedt after unloading donated items from her van.

Rick Cohen, COO of the National Council of Non-Profits, says changes in tax law in effect the New Year could affect charitable giving, “There are a lot fewer people who are going to be itemizing their taxes next year with the doubling of the standard deduction. (For 2019: $12,000 for individuals, $18,000 for heads of household, and $24,000 for married couples filing jointly and surviving spouses) Estimates from both sides of the political aisle that range from $13 to $21 billion a year less in giving.”

Goodwill of Greater Washington Chief Development Officer Janece Smoot-Kleban explained, “We’re in a wait and see mode. We’re monitoring it very closely though.” She continued after looking at the long line of cars waiting to donate, “It feels wonderful. I think it will be a good example of just the charitable intent and interest of the people in our region. We’re very grateful.”

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