TAX CALCULATOR: Charitable Giving in 2021
Did you know the “charitable giving” deduction was increased for 2021? Itemizers can elect 100% (vs. 60%) of their adjusted gross income. Non-itemizers who take the standard deduction (also slightly higher than last year) are allowed an additional $300 (single/married filing separately), or $600 for married filing jointly.* This is a win-win for the generous at heart!