New tax incentives for charitable giving in 2020
posted on 6:11 PM, December 14, 2020
Whether you itemize or not, you may want to take advantage of special tax incentives this year.
It's the season of giving — and NATS wants to make sure its members are up to speed on the latest tax incentives as you make your end-of-year charitable decisions.
Taking the Standard Tax Deduction?
The CARES Act expands charitable giving incentives and enables taxpayers who take the standard deduction on their tax return to make up to $300 in cash gifts as tax-deductible contributions to qualified charities. Just imagine … if every NATS member gave $300 to the Framing Our Future Fund this year, it would result in more than $2 million in gifts this year to NATS, paving the way to bright future!