Don’t miss out on the opportunity to inform your clients about a special provision in the Taxpayer Certainty and Disaster Tax Relief Act, signed into law on December 20, 2019 by President Trump. For cash donations made to public charities that are helping with qualified disaster relief efforts, the Act suspended the deduction limitations. Ordinarily, deductions of these contributions by individuals are limited to 60% of adjusted gross income. The provision is effective retroactively but also temporarily, covering 2018 and 2019 contributions as well as this year’s contributions so long as they are made before February 18, 2020. The limit still applies to contributions to donor-advised funds and supporting organizations.
Volunteer Spotlight – Annette Wells
There are people in every community whose quiet dedication, steady leadership, and genuine care help shape a better future for everyone. This month, we are proud to spotlight Annette Wells—Vice Chair of our Board of Directors and Executive Committee member—whose...
