Tax Benefits of CARES Act

New charitable deduction for taxpayers who do not itemize.
Beginning in 2020, individuals can deduct $300 in charitable contributions even if you do not itemize. Donations must be made in cash (check or credit card). Gifts of appreciated securities and gifts to a donor advised fund do not qualify. These gifts can greatly assist Casa de Kids” growing group of 25 students.
No cap on charitable deductions for taxpayers who do itemize. 
For 2020, the 60% cap on contributions is lifted, and donors may deduct up to 100% of their income. This is a significant tax savings for anyone able to contribute larger amounts. Again, this is only for gifts of cash (checks or credit cards), and only for gifts made directly to charity (not to donor-advised funds).
No required minimum distributions, but qualified charitable distributions still possible.  
The CARES Act eliminates required minimum distributions (RMDs) from many retirement plans in 2020. However, under the CARES Act, it is still possible for donors who are 70½ or over to contribute up to $100,000 directly to a charity without paying tax on the distribution.
The CARES Act is a complex new law. You should always consult with your professional advisers before making a gift.

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