April 11, 2013 at 19:47 PM EDT
Charity Experts Slam Obama Deduction Proposal
Wealth advisers and philanthropies were quick to criticize President Obama's budget proposal that would cap deductions on charity. The cap would be an additional erosion of incentives to charitable giving, warns Rick Dunham, CEO of Dunham+Co., a charitable fundraising advocacy group. Returning to life in 2013, the so-called Pease limitation caps charitable and other commonly itemized deductions for married joint filers earning $300,000 or more.
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