The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) which became law in March, allows for a charitable deduction in 2020 for up to $300 if you’re taking the standard deduction and not itemizing.
This option, only for 2020 taxes, was intended to encourage contributions to the many non-profit organizations in need of financial support. The amount is limited to $300, even if married filing jointly.
Please take advantage of this opportunity to support our Foundation or any other worthy nonprofit if you haven’t already!
