Covid-19 has created a tax incentive for people to continue giving to their favorite charitable organizations. The CARES Act has increased the limits of what you can deduct! And we THANK YOU for each and every donation!
Charitable Giving Incentive: Creates a new above-the-line deduction (universal or non-itemizer deduction that applies to all taxpayers) for total charitable contributions of up to $300. The incentive applies to cash contributions made in 2020 and can be claimed on tax forms next year. Section 2204. The law also lifts the existing cap on annual contributions for those who itemize, raising it from 60 percent of adjusted gross income to 100 percent.