Latest / Weaver: Beyond the Numbers
Making the Most of Charitable Contributions
With tax season just around the corner, host Tyler Kern discussed the latest updates around charitable contributions with Justin Reeves, CPA, Tax Partner at Weaver.
For those who itemize their deductions, the limit of cash contributions in 2021 has increased from 60% to now a staggering 100% of adjusted gross income.
Reeves clarified the difference in cash and non-cash contributions, “The numbers are still the same for non-cash donations and cash donations to private foundations — those remain at the existing limits — but it’s a real great opportunity for taxpayers to give up to 100%... it’s…
The skinny
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