CARES Act – Information for Donors

The 2020 CARES Act, passed in response to the coronavirus, contains some new tax allowances that donors should be aware of: A new allowance for non-itemizing taxpayers (i.e. those who take the “standard deduction”) to claim a $300 “above-the-line” deduction for donations to 501(c)(3) organizations; and For individuals and corporations that do itemize, significant increases in the percentage of income they … Continue reading CARES Act – Information for Donors