UNIVERSAL DEDUCTION FOR 2020*
The recently passed CARES Act allows donors like you to contribute to public charities and receive a taxable benefit!
When you make a cash contribution to charity (cash gifts to private foundations, donor funds, and supporting organizations are not eligible for the universal deduction) you can receive an above the line charitable deduction! In the midst of uncertainty, your giving can make an impact and provide a tax benefit to you and your family.
When a donor contributes up to $300 ($600 for married households) to a public charity, could receive a tax break such as:
- A donor in the 10% tax bracket would receive a $30 tax break
- A donor in the 22% tax bracket would receive a $66 tax break
- A donor in the 35% tax bracket would receive a $105 tax break.
This will also reduce the donor’s Adjusted Gross Income (AGI).
Please, wherever you are, prayerfully, consider helping God’s children right now, today at www.lla.org/giving
We appreciate your support to continue our mission in”…to provide a Christ-centered and nurturing environment to prepare students spiritually, academically, physically and socially for higher education, for life in a global society and for eternity”.