Following tax law changes, cash donations of up to $300 made this year by December 31, 2020 are now deductible without having to itemize when people file their taxes in 2021.
The Coronavirus Aid, Relief and Economic Security Act includes several temporary tax law changes to help charities. This includes the special $300 deduction designed especially for people who choose to take the standard deduction, rather than itemizing their deductions.
This change allows individual taxpayers to claim a deduction of up to $300 for cash donations made to charity during 2020. This deduction lowers both adjusted gross income and taxable income – translating into tax savings for those making donations to qualifying tax-exempt organizations.
Here’s an update on changes to our office policies in response to recommended social distancing protocols to slow the spread of corona-virus. Rest assured, we will continue operations and be available to clients. Here are the operational details with NY COVID-19 mitigation protocols:
1. Our offices will close if NY COVID-19 mitigation protocols requires closure. When not ordered to close, we will continue to be closed to the public even during office hours so visitors should schedule an appointment before coming to the office and will need to ring the front bell for access.
2. We ask that if you are ill, please cancel your scheduled meeting or switch to one of the remote access options below even after we re-open.
3. We have the capability to host remote access via web conference, video conference and tele-conference so that we can stay connected during these uncertain times. We expect to continue these options even after we resume operations for the convenience and health of our clients.
4. We are stepping up efforts to maintain a clean environment in our offices with heightened diligence on surface cleaning once we resume operations and will continue to practice better social hygiene such as not shaking hands and wearing a face mask.
5. During the COVID-19 pandemic, we will reduce the number of staff in the office at one time. Staff not required to be in the office will continue to work from home. Anyone ill or feeling symptoms of COVID-19 will be required to stay home.
6. If you need to schedule a call or meeting after we resume operations, please use our online scheduling option for your convenience, available via our website, since we will have limited staff on site.
7. Voicemails and emails are monitored by staff members who are working from home, but there may be a delay in responding.
8. Anyone coming into our office will be required to review, acknowledge and sign an affidavit stating that there has been no recent travel, there are no illness or symptoms and agree to waive liability before being admitted. We reserve the right to require temperature checks, face masks and hand sanitization/hand washing immediately after arriving at our office.
9. If you are sending anything important through the mail, please send an email or leave a voicemail so we can be on the lookout for your item.
We remain dedicated to your needs during these uncertain times. Please reach out with any questions or concerns.
Thank you for your trust!