If you’re making charitable contributions specifically for disaster relief efforts in 2018 and 2019, they must be made by Feb. 18, 2020, to qualify under special disaster area charitable gift rules. A new law temporarily suspends certain limits on charitable contribution deductions. For example, cash charitable contribution deductions are generally limited to 60% of adjusted gross income (AGI). But this limit doesn’t apply to qualified disaster contributions for a limited time. In other words, cash contribution deductions up to 100% of AGI can be claimed if certain requirements are met. Contact us for more details. www.mjscpa.com/
