Crosby & Phoebe

If Covid-19 doesn’t have you mad as hell. . . the CARES Act may?

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.

https://www.npr.org/2020/04/30/848321204/how-the-cares-act-became-a-tax-break-bonanza-for-the-rich-explained

https://www.propublica.org/article/the-cares-act-sent-you-a-1-200-check-but-gave-millionaires-and-billionaires-far-more

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. . . .

Photo by Chait Goli on Pexels.com

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