Support RHD and Receive an Unprecedented Tax Benefit
November 20, 2020
2020 has become a once in a generation opportunity for charitable giving. With donors needed now more than ever, the CARES Act aims to encourage charitable giving by improving the tax incentives in 2020. For individual donors, the tax deductions for cash gifts had previously been limited to 60% of adjusted gross income (AGI). This limitation has been suspended for this year, allowing donors to deduct 100% of income. Many donors are taking advantage by coupling their charitable gifts with other income generating strategies such as a Roth conversion or employee stock option exercise, while literally paying NO income tax. Your gift could save you thousands of dollars while improving the lives of our community members!