CARES Act and Charitable Giving

ACAF • April 17, 2020

The CARES Act includes provisions that incentivize donors to make charitable contributions that can help non-profits during this pandemic crisis.

Donors can make an above-the-line deduction for contributions of up to $300 that are made to certain qualifying charities. All taxpayers are eligible for this deduction, including those who use the standard deduction. For the small percentage of those who itemize, the act suspends the normal limit on contributions for 2020, which is 50% adjusted gross income (AGI) for individuals.

For corporations, AGI is increased from 10% to 25%. Corporations can also deduct 25% of food donations.

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