CARES Act News!

Previously, charitable contributions could only be deducted if taxpayers itemized their deductions. Now through the CARES Act, even taxpayers who don't itemize deductions may take a charitable deduction of up to $300 for cash contributions made in 2020 to qualifying organizations. For the purposes of this deduction, qualifying organizations are those that are religious, charitable, educational, scientific, or literary in purpose. More information about this and other changes is available on IRS.gov.