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New Rule For Itemized Deductions

Did you know the recently passed stimulus bill – the Coronavirus Aid, Relief and Economic Security (CARES) Act – provides new allowances for donors to deduct their gifts to public charities against their 2020 adjusted gross income? It also relaxes existing limits on itemized deductions, including gifts to public charities. To learn more, consult your financial advisor or the Congressional record of the CARES Act.

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