Blog

December, 2020

2020 Special Tax Deductions for Cash Donations to Charities

By
December 18th, 2020

Posted in IRS & Tax Information

The CARES Act, enacted by Congress previously this year, includes a special $300 charitable tax deduction, even if you do not itemize your deductions on your taxes. The purpose of this deduction is to help charities that may be struggling due to the COVID-19 pandemic. This new and temporary deduction is only available to taxpayers who make a cash contribution directly to a charity and before the end of the 2020 year.


Continue Reading »
Share Button