Can I deduct my donations?
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Sure! If you plan to claim the standard deduction on your 2021 tax return, you can write off a maximum of $600 in contributions to charities.
In 2020, a charitable deduction of $300 is authorized under the CARES Act. Rewarding people helping our their fellow Americans in a time of need.
For 2020, the charitable limit per “tax unit” meant, those who filed married and filing jointly could only get a $300 deduction.
This 2021 tax year, those who file married and filing jointly can each take a $300 deduction, equaling $600.
Individual taxpayers can claim an “above-the-line” deduction of up to $600 in cash donations to qualifying charities in 2021.
So, if your are single, head of household, or married filing seperate filers, $300 is the max you can claim.
Tax deductions reduces your taxes due and allows you to recover more money you paid in throughout the year.
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