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Deduct Up To $300 with Charitable Contributions
Dr. Friday 0:00
Good day. I'm Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to DrFriday.com. This is a one-minute moment.
Dr. Friday 0:12
The Consolidated Appropriations Act of 2021 maintains and enhances the charitable contribution provision that was originally created by the COVID Aid and Relief Economic Security Act or the Cares Act, which we all know it as. This means that taxpayers who did not or do not itemize can still deduct up to $300 and in 2021 if you're married that will now become $600. Loophole, guys, you also have to do this in cash. It doesn't qualify if it's charitable contributions of clothing or other items. So make sure you're not leaving any money on the table when you do your taxes.
Announcer 0:51
Good day. I'm Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to DrFriday.com. This is a one-minute moment.
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By Dr. Friday Tax & Financial Firm
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Dr. Friday 0:00
Good day. I'm Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to DrFriday.com. This is a one-minute moment.
Dr. Friday 0:12
The Consolidated Appropriations Act of 2021 maintains and enhances the charitable contribution provision that was originally created by the COVID Aid and Relief Economic Security Act or the Cares Act, which we all know it as. This means that taxpayers who did not or do not itemize can still deduct up to $300 and in 2021 if you're married that will now become $600. Loophole, guys, you also have to do this in cash. It doesn't qualify if it's charitable contributions of clothing or other items. So make sure you're not leaving any money on the table when you do your taxes.
Announcer 0:51
Good day. I'm Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to DrFriday.com. This is a one-minute moment.