Respond With Your $300 Deductable Gift

You may be able to take advantage of a one-time tax deduction of up to $300 for gifts made to The Community Foundation. The CARES Act, signed into law in March of this year, provides taxpayers who do not itemize their deductions a special incentive to support public charity. The Universal Charitable Deduction provides an above-the-line deduction of up to $300 cash made by anyone who takes the standard deduction. Gifts must be made in 2020 and must be made in cash – you can mail a check or give online at cfmdin.org. Gifts must be made to a public charity, like The Community Foundation. For specific questions about your tax situation and the Universal Charitable Deduction, please consult your financial advisor.