Charitable Giving Under the CARES Act
June 1, 2020 | Latest News
The federal Coronavirus Aid, Relief and Economic Security (CARES) Act increased tax deductions for charitable giving. For taxpayers who take the standard deduction, the CARES Act created an above-the-line deduction of up to $300 for cash donations made in 2020. For taxpayers who itemize, the deduction limit for charitable donations was increased. Consult a tax advisor for additional information on how you can support St. Joseph’s Hospitals under these expanded charitable giving rules.