The Coronavirus Aid, Relief and Economic Security (CARES) Act charitable giving incentives for individuals and corporations
- All taxpayers (both those who itemize and those who use standard deduction) can deduct $300 in charitable giving to public nonprofits in 2020.
- For those who itemize their taxes the CARES Act significantly raises the amount of charitable giving deductible from 60% of filers’ adjusted gross income (AGI) to 100% of AGI.
- The CARES Act raises the amount of charitable giving that corporations can deduct from 10% of taxable income to 25% of taxable income
- The bill also raises the amount of in-kind donations of food that corporations can deduct from 15% of taxable income to 25% of taxable income
Charitable Stock Gifts
Donating stock is a great way to support Radiant Health Centers and the people we serve!
Your gift will help the most vulnerable members of Orange County’s LGBTQ+ community. In addition, donating appreciated assets avoids federal capital gains taxes and provides a federal income tax deduction for the current market value of the gift.
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