Deduct your Entire AGI & Pay No Taxes in 2020?
As-Salam ‘Alaykum wa Rahmatullahi wa Barakatuh,
We hope you are in the best of health and iman. As we approach the end of the year, please remember Al Madina School of Richmond when making your year-end donations. Here are some helpful charitable giving tips and reminders for 2020:
For individuals who itemize their deductions, you may deduct up to 100% of your Adjusted Gross Income (AGI) for cash charitable contributions to qualifying 501(c)(3) charities.
So, if your 2020 AGI is $200,000, you can deduct $200,000 in Charitable donations!
For corporations, you are eligible for a deduction of up to 25% of your taxable income for charitable contributions made to qualifying 501(c)(3) charities.
Make AMSR the recipient of your tax deductible donation!
Receive a most excellent deed while blessing your income!
Click HERE and choose where you would like to make your donation count!