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Show You Care — and Save Taxes!

access_time Posted on: December 22nd, 2020

Among the tax law changes adopted by Congress to address this year’s Coronavirus epidemic is one that will allow you to help others and save on your tax bill at the same time.   The CARES Act, approved by Congress this past Spring, gives taxpayers a dollar-for-dollar tax deduction of up to $300 when they make a documented cash contribution to a qualified charity before December 31, 2020. In order for the cash contribution to be documented you will need a written record of the donation like a receipt from the organization indicating your name, contribution amount and date.  This is an above-the-line deduction,… read more »