For many, the end of the year means a rush to make charitable donations before tax season rolls around. But due to a change in the tax code passed last December, the tax benefits for many Americans once received from giving will no longer be accessible.
For those who generally itemize their deductions, the bar is much higher this year. The new law raises the standard deduction for an individual from $6,350 up to $12,000. For a married couple, it’s now $24,000.
We reached out to several North Texas nonprofits who say it’s too soon to know what this change will mean for their bottom line.
The SPCA of Texas is one of the many organizations who say they see giving go up towards the end of the year.
“What that ultimately does for the SPCA of Texas is it sets us up for 2019,” said marketing and communications manager Victoria Albrecht.
While each animal's stay and treatment plan varies during their time there, the average stay costs SPCA of Texas about $800.
While DFW has never failed to help them reach the amount needed, they hope the new tax law won't change that.
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“Honestly we’re not even sure how it’s going to impact. The best thing we can tell people is animals still need your help. They still need the money and the care that we can provide for them," said Albrecht.
All donations made through midnight Thursday will be tripled thanks to an an anonymous donor. Those can be gifted at spca.org.