Virtual Gala Tax Information
Since we are hosting a Virtual Gala, there are no goods and services, thus making any ticket or sponsorship
100% tax-deductible!
The New Economic Stimulus Bill allows for charitable giving incentives that you and your network may find beneficial.
Charitable contributions made in 2020 for non-itemizers are tax-deductible up to $300.
100% tax-deductible!
The New Economic Stimulus Bill allows for charitable giving incentives that you and your network may find beneficial.
Charitable contributions made in 2020 for non-itemizers are tax-deductible up to $300.
- Charitable contributions made in 2020 for non-itemizers are tax-deductible up to $300.
- For those who do itemize, the bill also lifts the existing cap on annual contributions from 60% of adjusted gross income to 100%.
- For corporations, the bill raises the annual limit from 10% to 25%.
Neighborhood Assistance Program Credits will also increase since there are no goods or services included in the contribution value. So half of your donation or sponsorship of $500 or more is eligible for NAP credits. Click here for more information about this program: http://www.cwitstl.org/tax-information.html
