“GiveCalc: A new tool to calculate the true cost of US charitable giving” by Max Ghenis

By Max Ghenis, Co-founder and CEO of PolicyEngine[1] This Giving Tuesday, we're launching GiveCalc, a free tool that calculates how charitable giving affects your US taxes and net income. When you make a tax-deductible donation, you reduce not just your taxable income, but your tax liability—often in complex ways that vary by state, income level, and other factors. GiveCalc extends PolicyEngine's open-source US microsimulation model to compute these effects and help you give more effectively. How GiveCalc transforms the 🔸10% Pledge calculation Many donors consider Giving What We Can's 🔸10% Pledge, which marks a commitment to give at least 10% of income to effective organizations. GWWC suggests choosing between pre-tax and post-tax income as the pledge base, with pre-tax recommended when donations are tax-deductible. Take a family in California earning $200,000, with two children and $15,000 in mortgage interest and property taxes. Without donations, they take home $153,895 [...] ---Outline:(00:42) How GiveCalc transforms the 🔸10% Pledge calculation(03:11) Finding your optimal giving level(04:30) A note on methodology(05:01) Whats next for GiveCalcThe original text contained 2 footnotes which were omitted from this narration. The original text contained 4 images which were described by AI. --- First published: December 3rd, 2024 Source: https://forum.effectivealtruism.org/posts/gRLipHaijMn4ffv3a/givecalc-a-new-tool-to-calculate-the-true-cost-of-us --- Narrated by TYPE III AUDIO. ---Images from the article:Apple Podcasts and Spotify do not show images in the episode description. Try Pocket Casts, or another podcast app.