Due to the on-going COVID crisis, Congress has extended the CARES ACT charitable provisions for tax year 2021.
The Universal Charitable Deduction is a special tax deduction up to $300 for cash gifts to charity this year even if you do not itemize on your tax returns. For itemizers, the increased deduction cap to 100% of donor’s annual income for cash gifts has also been extended through 2021.
You can also save money, create income, and save on taxes by using Charitable Planned Gifts, such as the Yellowstone Gift Annuity. Let us show you how to make the most of your charitable giving this year!