Considering a donation? Now is a good time to take advantage of the CARES Act regarding charitable donations.
During 2020, for people taking the standard deduction when filing, they can get up to $300 per taxpayer ($600 for a married couple) in annual charitable contributions.
Individuals that itemize can deduct up to 100% of their 2020 AGI and corporations may deduct up to 25% of taxable income.
The new deduction is for gifts that go to a public charity, such as Habitat for Humanity Clark & Floyd Indiana. Donate today, take advantage of the new tax deduction, and make a difference in our community!