As we approach the end of the year, be aware that taxpayers are allowed a special charitable contribution deduction for 2021 even if they don’t itemize. Ordinarily, people who claim the standard deduction on their tax returns can’t claim a deduction for their charitable donations. But a temporary law change permits them to claim a limited deduction of up to $300 for cash contributions made to qualifying charities during 2021. The maximum deduction is increased to $600 for married individuals filing joint returns. Nearly nine in 10 taxpayers now take the standard deduction and could potentially qualify. Here are more details from the IRS: https://bit.ly/3k5FGgJ Call or visit our website for more information! www.mjscpa.com/
