Local Featured
- Associated Press
The $230 billion donor-advised fund industry gets an IRS hearing
Congress and the Biden administration are considering what, if anything, should be done to tighten restrictions on donor-advised funds, an increasingly popular way for donors to set aside money to spend on charitable causes. Driving the debates are questions about whether the country’s ultrawealthy are abusing the immediate tax deductions they receive from tucking money into DAFs, where the dollars can sit indefinitely or, more often, until donors decide which nonprofits to support. Many in the nonprofit world have opposed that characterization, arguing the accounts allow for an easy, no-frills style of giving that appeals to both wealthy and average American donors.
- Yahoo Finance
Toyota issues muted profit forecast following blowout 2024 results
Toyota, the world’s largest automaker, reported blowout results for its fiscal year 2024, though investor response was muted as the company issued a conservative outlook, reflecting heavy investments that need to be made as its business transforms.
- The Telegraph
Kate Forbes gets Scotland’s Deputy First Minister job after agreeing not to contest SNP leadership
John Swinney has appointed Kate Forbes as Scotland’s Deputy First Minister after she extracted a high price for agreeing not to stand against him for the SNP leadership.
