Under the 2017 tax law, donors who itemize can deduct cash donations of up to 60 percent of their income, through 2025. People who do itemize their deductions can get an even bigger benefit from charitable contributions in 2021. (For 2021, it’s $12,550 for single filers and $25,100 for married couples filing jointly.) For 2020, the standard deduction is $12,400 for single filers and $24,800 for married couples filing jointly. The 2017 law roughly doubled the standard deduction, and abolished some itemized deductions. But because of changes to the federal tax code made in 2017 through the Tax Cuts and Jobs Act, most taxpayers take the standard deduction. Typically, you can deduct charitable donations only if you itemize your personal deductions, rather than taking the standard deduction. (The limit for 2020 was $300 per return, not per person.) The measure also increased the maximum amount that married couples can deduct to $600. The December legislation continued, just for 2021, a $300 charitable deduction for filers who don’t itemize deductions on their tax returns.

Taxcaster for 2021