Don’t forget ISCOWP is a 501(c3) organization, and therefore your gift is tax-deductible EIN # 23-2604082. Thank you!
The stimulus package passed on 12/27/20 extends and increases charitable tax incentives of the 2020 Cares Act through 2021. 1) All taxpayers can take deductions for qualified charitable contributions in 2020 of up to $300. Married couples’ joint filing can take up to $600.These “above the line” deductions are available if you don’t itemize. 2) Charitable itemized deductions made in cash to public charities are generally limited to 60% of AGI, but that has changed to 100%. This change gives you more ability to make a large impact in 2021. Note that this is intended for direct payments to charities rather than donor-advised funds or 509(a)(3) supporting organizations. 3) The AGI limit for cash contributions also remains increased for corporate donors. In 2021, corporations can deduct up to 25 percent of taxable income (formerly 10 percent before the CARES Act).
7016 SE 92 Terrace
Gainesville, FL 32641 USA
Phone: 352-792-6777 E-mail ISCOWP