New tax incentives for 2020

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The CARES Act expands charitable giving incentives and allows taxpayers to take a charitable deduction of up to $300 for those who take the standard deduction.

For those who do itemize their deductions, the new law allows for cash contributions to qualified charities such as the Michigan 4-H Foundation to be deducted up to 100% of your adjusted gross income for the 2020 calendar year.

To explore this option further, contact Amanda Masters at by e-mail at

Consulting with personal legal counsel and/or a tax adviser for definitive assessment of the tax benefits of and limitations on planned gifts is also recommended.