Don’t forget to include any charitable donations you made in 2020 with your tax documents for preparation even if you usually take the standard deduction. The IRS is allowing a $300 maximum cash donation deduction above the line even for taxpayers who take the standard deduction. This can help to reduce your AGI and your overall tax liability.

For more information, contact Kristen Woodall at (770) 287-7800 or kwoodall@rushtonandcompany.com. Stay tuned for more tax tips or follow them on our social media accounts every #TaxTipTuesday!