What the CARES Act means for your charitable giving
On March 27, the President signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help combat the far-reaching impacts of COVID-19. The bill provides increased tax incentives for charitable giving for both individuals and corporations, signifying an intent to stimulate philanthropy throughout America. Notable incentives include: Deducting up to 100% of your Adjusted Gross Income, and IRA Qualified Charitable Distribution opportunities now available for individuals over 59½.
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The tax information provided is general and educational in nature and should not be construed as legal or tax advice.
Family Tree Relief Nursery is a registered 501-c3 non-profit organization, Tax ID 14-1872327