First off, if you have a charity that you would like to give $300 to before year end in cash and don’t plan on taking itemized deductions in 2020 it’s OK to give that donation. CARES will allow you a line item deduction on donations at $300 or less. I know my political donations in 2020 don’t count but I have a few 501.3c that can get a little something something.
Not sure if you understood what was tucked into the CARES’s Act but here are a fw things to take in that may make you a little angry.
If you have a qualified charity that. you care about, it’s OK to send them $300 in cash this year it will be a line item. . . .