BIGGER Tax Breaks for Charity in 2020! Standard Deduction OR Itemized
The 2020 CARES Act means you can take BIGGER charitable deductions this year to help Boys & Girls Clubs. Considering your IRA Rollover AND income tax this year? If you itemize, take advantage of CARES Act charitable deductions up to 100% of your income allowed in 2020. Take the standard deduction? You have up to $300 above the line “universal” deduction available this year. We need your help to come back stronger for this community – now more than ever.
***Information provided above does not substitute for the advice of your tax advisor or attorney. Please see your tax advisor or attorney for full advice on implications of the CARES Act.