CARES Act

Coronavirus Aid, Relief, and Economic Security Act 

The stimulus legislation introduces new, temporary tax incentives for supporting public charities during this time. 

• In 2020, every taxpayer may claim up to $300 in charitable contribution deductions. This is an above-the line deduction which means that it may provide tax relief by reducing a donor’s adjusted gross income.
• The limit on deducting contributions of cash, usually 60% of Adjusted Gross Income, has been increased to 100% for 2020.

Please consider using these provisions to maximize the impact of your Hamilton philanthropy.

Ways to Give