CARES Act and Charitable Contributions
HR 748 One of the lesser-known benefits of the CARES act is the tax deduction this year for cash donations to not-for-profit organizations. Normally, you could only deduct charitable contributions if you itemized on Schedule A. Now, if you elect the standard deduction in 2020 you will get to deduct $300 “above the line” meaning […]
Tax-Saving Tips
Save money on your taxes with tips from our experienced tax specialist. Claim Your 2020 and 2021 ERC Now (Yes, in 2022) During much of 2020 and 2021, you may have qualified for the Employee Retention Credit (ERC). Lawmakers created this tax credit in response to the COVID-19 pandemic. With the ERC, you found (or could […]
Tax-Saving Tips
By Matthew P Schlanger, August 2022 Save money on your taxes with tips from our experienced tax specialist. Claim Your 2020 and 2021 ERC Now (Yes, in 2022) During much of 2020 and 2021, you may have qualified for the Employee Retention Credit (ERC). Lawmakers created this tax credit in response to the COVID-19 pandemic. […]
