Giving to charity is admirable in its own right, but it doesn’t hurt if you can get a tax break, too. Unfortunately, tax incentives for charitable giving have been much harder for individual taxpayers to take advantage of in recent years. The good news is that things have changed for 2020.A provision under the CARES Act ― the comprehensive coronavirus stimulus package passed in March ― makes it possible to write off up to $300 in certain charitable contributions without having to itemize your taxes. According to the Internal Revenue Service, nearly 9 in 10 taxpayers currently take the standard deduction and could potentially …
Source: Money
