Great news for supporters of the Worthen Library
The Cares Act of 2020, passed in March, contains two little known federal tax benefits, even for tax filers who use the standard deduction and do not itemize.
Annual charitable contributions of up to $300 for an individual, or $600 for married couples filing jointly, can be deducted and used to reduce the donor’s AGI (Adjusted Gross Income).
Also, individuals who itemize can deduct donations up to 100% of their 2020 AGI, up from 60% previously.
Why not take advantage of this one-time tax benefit to make a donation to your library that lowers your taxable income? You can send a check or you can click here to make a secure gift online.
The Worthen Library does not provide legal or tax advice so please consult your tax advisor to determine how these changes may impact you. Thank you for your ongoing support. And on we go!