Preservation | Family Wealth Protection & Planning


Blog Editors



Posts in CARES Act.
By Keith Grissom on March 31, 2020 at 5:00 PM

President Trump signed into law on Friday, March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act, to help individuals and businesses affected by COVID-19. This legislation has brought about sweeping changes meant to provide relief to individuals and businesses. As part of the CARES Act, certain changes were made with respect to tax benefits to incentivize charitable giving.

$300 Cash Contribution Deduction. Beginning in 2020 and each year thereafter (this is not limited to only 2020), individuals can take a $300 above-the-line deduction for cash contributions to charities, regardless of whether or not the individual itemizes deductions.

Facebook Twitter LinkedIn Google+ Email

This website uses cookies to improve functionality and performance. If you choose to continue browsing this website, you consent to the use of cookies. Read our Privacy Policy here for details.