Chris and Giff Gates of Gates Home Furnishings are challenging the community to match their $2,500 gift (or start your own match challenge in a different amount) in support of Boys & Girls Clubs of the Rogue Valley’s COVID-19 Relief Efforts.
You can make a difference.
Help Southern Oregon Youth and Accrue Tax Benefits
CARES Act Charitable Giving Provisions:
Universal Charitable Deduction
The CARES package includes a temporary universal charitable deduction. This deduction will allow all taxpayers to claim an above the line charitable deduction for cash donations up to $300 through December 31. Donations to donor advised funds and supporting organizations are not eligible for this deduction.
Adjusted Gross Income Limitation
The law also lifts the cap on annual deductions for cash contributions for those who itemize, raising the cap from 60% to 100% of adjusted gross income. The cap for corporations has been increased from 10% to 25%. For food donations, the corporate cap has been increased from 15% to 25%.