CARES Tax Deduction

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CARES Tax Deduction

Benefit children with cancer & receive a tax deduction. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) impacts charitable giving:

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The Act provides individuals with a $300 “above-the-line deduction” for donations to charitable organizations available regardless of if the taxpayer itemizes their deductions. In other words, individuals are eligible for a deduction that allows a taxpayer to subtract from his or her gross income of up to $300. The incentive applies to contributions made in 2020 and would be claimed on tax forms next year.