Broker Check

Tax Tip Tuesday: Tip #71, Charitable Donation Deductions for 2021

May 25, 2021

Top local accounting firm near me - Local Accountant and CPA Gabi Santangelo Bio IMG

For the 2021 tax year, the IRS extended and increased the “above-the-line” charitable contribution deduction for taxpayers taking the standard deduction. They are allowing a max charitable contribution deduction of $300 per person, or $600 for taxpayers filing married filing jointly. For taxpayers who itemize their deductions, the IRS has extended the 100% deduction. In other words, all charitable contributions made to an eligible organization will be 100% deductible on your 2021 tax return, regardless of your adjusted gross income.

For more information, contact Gabi Santangelo at (770) 287-7800 Stay tuned for more tax tips or follow them on our social media accounts every #TaxTipTuesday!

Read more here: