Giving Tuesday is May 5!
Generosity has the power to unite and heal communities in good times and bad! And a global threat like COVID-19 touches every person on the planet, and it presents an opportunity to come together as a global community.
This #GivingTuesday - Don't forget to support your local charities!
New Financial Incentives thanks to the CARES ACT
Did you know that the Federal Government's recently passed CARES ACT offers new financial incentives to complement the kindness of your heart?
The first charitable giving tax incentive, for taxpayers who do not itemize their deductions, allows an above-the-line deduction for cash charitable contributions of up to $300. This provision should help to increase donations from individuals who otherwise may not choose to make a charitable contribution.
The second charitable giving tax incentive, for itemizers, temporarily increases income limits for cash contributions by individual and corporate donors. Now, individuals can deduct up to 100% of their adjusted gross income (AGI) in cash contributions (raised from 60%) and corporations, up to 25% of taxable income (from 10%).
Take Time to GIVE if you can and Make a Difference for Home Builders Care - May 5, 2020
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