New tax rules foster donations

IRS Logo public domainNew tax rules let you deduct $300 in charitable contributions per year, even if you itemize deductions. This is good news for donors and charities, because the 2017 tax reform law — it made the standard deduction (with no charitable deductions) more attractive to many — triggered a decline in charitable donations by individuals.

New tax rules also suspend the percentage limits on itemized deductions for charitable donations made in 2020.

These changes came under the CARES (Coronavirus Aid, Relief, and Economic Security) Act. If you have questions, please consult an experienced and capable tax advisor.

Caring House is eligible for donations under these rule changes. Please give now, if you are able. You’ll help improve the end-of-life experience for men and women and families in our community.