We remind you that a special tax provision will allow more Americans to easily deduct up to $600 in donations (for married filing jointly) to qualifying charities on their 2021 federal income tax return.
Ordinarily, people who choose to take the standard deduction cannot claim a deduction for their charitable contributions. But a temporary law change now permits them to claim a limited deduction on their 2021 federal income tax returns for cash contributions made to qualifying charitable organizations.
Under this provision, individual tax filers, including married individuals filing separate returns, can claim a deduction of up to $300 for cash contributions made to qualifying charities during 2021. The maximum deduction is increased to $600 for married individuals filing joint returns.
CONTACT US TODAY if you have any questions.
Sincerely,
Maryna Varabyova, CPA
(877) 677-3737
info@vmtaxcpa.com
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