As of March 27th, 2020 Coronavirus CARES Act has a new deduction up to $300.00 for 2020 Charitable Giving to support nonprofit charities. Please support Saved In America today to assist parents and law enforcement in the recovery of missing, runaway and trafficked children. Saved In America has assisted in the recovery of more than 237 children and your donation helps to bring more children home.
How the CARES Act may help you deduct your donation to Saved In America:
CARES Act creates a $300 partial above-the-line charitable contribution for filers taking the standard deduction and expands the limit on charitable contributions for itemizers.
For those who don’t itemize their taxes:
The bill allows for up to $300 in charitable contributions to be an above-the-line deduction, meaning you don’t have to itemize to claim the deduction. Contributions must be cash donation(s) to qualified charities.
For those who do itemize:
The bill increases the cap on annual giving from 60 percent of adjusted gross income to 100 percent. Donors can deduct 100 percent of their gift against their 2020 adjusted gross income. For example, if you have $1 million of income, you can give $1 million to a public charity and deduct the full amount in 2020.
For corporate charitable giving:
The bill raises the annual limit from 10 percent to 25 percent of taxable income for corporations.
Please participate and donate today! We need 1,000 people to donate $300 each to combat child sex trafficking and pay for Saved In America operations and rehabilitation for 2020.