New way to give to charity and save on federal income taxes | News, Sports, Jobs
Want to do a good deed in 2020 and save a little money on federal income taxes? With the year swiftly coming to a close, the Internal Revenue Service has reminded taxpayers of a special new provision that will allow people to easily deduct up to $300 in donations to qualifying charities this year. After special tax law changes made earlier this year, cash donations of up to $300 made before 2020 ends Thursday now are deductible when filing taxes in 2021. “Our nation’s charities are struggling to help those suffering from COVID-19, and many deserving organizations can use all the help they...
Source: ironmountaindailynews.com