To encourage increased giving to non-profits, the Federal Government recently passed the CARES Act, which reinstates and increases a number of charitable deduction items.
If you itemize, you can deduct gifts totaling up to 100% of your Adjusted Gross Income. This is for gifts made between January 1 and June 30, 2020.
Donors who want to accelerate pledge payments and/or make significant commitments are encouraged to discuss this benefit with their financial advisors.
The Act also allows, for those who do not elect to itemize deductions, to deduct up to $300 in qualified charitable contributions. This total applies to any return, whether an individual or a joint return.
if you give to us right now, more of your donation (up to $300) will be counted against your taxes than at any other time!*
We are not financial consultants and recommend that individuals should confirm / consult with one about tax policy.