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30 Important Tax Tips You Must Know to Reduce Your Taxes! - #6 Charitable Donation

Deducting charitable contributions made in 2020! In the past, charitable contributions could only be deducted if you itemized your deductions.

However, those who didn’t itemize deductions may take a charitable deduction of up to $300 for cash contributions made in 2020 to qualifying organizations. The CARES Act also temporarily suspends limits on charitable contributions and temporarily increased the limits on contributions of food inventory.

Cherish Our Children:

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