Scripps Health Year end tax breaks
Has the market been good to you this year? Or perhaps you’re looking to drop some appreciated stock? If you’d rather direct your hard-earned cash to a cause you care about than pay it in taxes, there’s still time to take advantage of the charitable contributions provisions in the CARES Act. The Consolidated Appropriations Act extended a measure established under CARES that enabled taxpayers who itemize to deduct up to 100 percent of their adjusted gross income for cash contributions to a qualifying charity. Normally, you’d only be able to write off 60 percent. This ruling applies to cash gifts made to qualified charities, such as Scripps, but excludes donor-advised funds and private foundations. But you’ll have to act fast. Savvy taxpayers can cash in, but only through December 31. Click here to find out more.
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