Your generous gift may be 100% tax deductible this year
We all know that the COVID-19 pandemic has disrupted daily life all over the world. For families who were already struggling each day, this crisis has been even more devastating.
But thanks to your generosity, Catholic Charities has been able to continue serving these vulnerable people in the Greater Houston region with food, emergency financial assistance, home deliveries of essential items and more.
Now it’s even easier to give and save at the same time.
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) may offer some much-needed relief. The CARES Act, which provides emergency financial assistance to individuals, families and businesses affected by the COVID-19 outbreak, offers significant incentives for those who are in a position to give, to dig deep this year—including the ability to offset up to 100% of taxable income for 2020.
Under the CARES Act, donors can get a Federal income tax deduction for charitable contributions of up to 100% of their Adjusted Gross Income (AGI). It was formerly 50%. If for example someone earned $100k and they gave $100k cash to charity, they could previously only offset $50k of their income (50%), but this year they can offset 100% and the entire $100k.
What You Can Do
Thanks to generous people like you, Catholic Charities has been able to serve the community during the coronavirus crisis. And with your continued support, we will continue to provide life-saving programs and services to the struggling families throughout our community.
If you have questions or need more information about your gift, please contact a member of our Development Office.