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The new provision pours some cold water on million dollar salaries at nonprofit organizations.
...
Earlier this year, the Wall Street Journal combed through the most recently available IRS data and found that 2,700 employees at U.S. nonprofits were paid more than $1 million in 2014. All indications are that the number has grown even more since then.
...
So what is the new tax law going to do about it?
Every organization that pays a salary of more than $1 million per year to any of its top five earning employers will face a stiff new 21 percent excise tax. That means any nonprofit-designated charity, college, and hospital that routinely asks us for donations, or charges expensive tuition or medical bills will have to justify paying those high salaries against a hefty new tax.
Now I want to see who is going to complain about this one.
This hits organizations such as hospitals, colleges, religious organizations, 78 college football coaches make over $1 million in salary
With increasing medical bills and tuition costs - it makes no sense for non-profits to be paying that much in salary.
Leave it to a strong business man and leader to close some of the business tax loopholes. But even though this is something leftists have wanted, they will complain anyway just because it came from Trump. Of course, had it come from Obama, they would have celebrated it as though it were the best thing to ever happen to this country.
Nick Saban, Brian Kelly, Joe Harbaugh, etc., etc., I hope and pray they all get cut to $999,999. Although the alums will still find ways to slip them money.
The new provision pours some cold water on million dollar salaries at nonprofit organizations.
...
Earlier this year, the Wall Street Journal combed through the most recently available IRS data and found that 2,700 employees at U.S. nonprofits were paid more than $1 million in 2014. All indications are that the number has grown even more since then.
...
So what is the new tax law going to do about it?
Every organization that pays a salary of more than $1 million per year to any of its top five earning employers will face a stiff new 21 percent excise tax. That means any nonprofit-designated charity, college, and hospital that routinely asks us for donations, or charges expensive tuition or medical bills will have to justify paying those high salaries against a hefty new tax.
Now I want to see who is going to complain about this one.
This hits organizations such as hospitals, colleges, religious organizations, 78 college football coaches make over $1 million in salary
With increasing medical bills and tuition costs - it makes no sense for non-profits to be paying that much in salary.
I don't have any complaints but I must admit to a certain amount of confusion.
I thought that the GOP was pro-compensation as in if you work hard you deserve to be well-paid for your efforts.
People constantly defend high salaries and golden parachutes for people in the finance industry and the like, so why pick on the non-profits, many of whom hire the very same people as have worked in private industry?
Or is this only for non-profits that the GOP doesn't like?
The new provision pours some cold water on million dollar salaries at nonprofit organizations.
...
Earlier this year, the Wall Street Journal combed through the most recently available IRS data and found that 2,700 employees at U.S. nonprofits were paid more than $1 million in 2014. All indications are that the number has grown even more since then.
...
So what is the new tax law going to do about it?
Every organization that pays a salary of more than $1 million per year to any of its top five earning employers will face a stiff new 21 percent excise tax. That means any nonprofit-designated charity, college, and hospital that routinely asks us for donations, or charges expensive tuition or medical bills will have to justify paying those high salaries against a hefty new tax.
Now I want to see who is going to complain about this one.
This hits organizations such as hospitals, colleges, religious organizations, 78 college football coaches make over $1 million in salary
With increasing medical bills and tuition costs - it makes no sense for non-profits to be paying that much in salary.
Does it make sense for non-profits to be paying $999,999.00 in salary?
I like the idea but think the cap could easily be cut in half and be fair.
The Donald J. Trump Foundation is a New York-based private foundation founded and chaired by President of the United States Donald Trump. It has been a source of controversy, criticism and scrutiny. The foundation has been fined for making political contributions and admitted engaging in self-dealing practices to benefit Trump, his family, and businesses.
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