How The CARES Act Has Changed Charitable Giving Deductions
Many of you have likely heard about the CARES Act by now, but you may not realize HOW MUCH of an impact it really has. Our Mid-MO CPA firm has talked about how the CARES Act has affected small businesses and individuals, but have you ever wondered how it may be affecting charitable donation deductions? If so, this is the blog for you. Our CPAs in Central Missouri are here to explain how the CARES Act has changed charitable giving deductions in this week's blog. If you have any questions, please do not hesitate to give us a call at Wilson Toellner CPA . We have four offices throughout Mid-MO, one in Sedalia, Marshall, Camdenton, and Lake Ozark. All of our phone numbers can be found on our website at www.WTCPA.com . The CARES Act has resulted in changes to deductions for charitable donations. Individuals (who do not itemize) can receive a deduction from gross income for up to $300 for qualified charitable contributions for tax years beginning 2020 Individual taxpayers are ...