FPP Inc., a small Non-profit organization dedicated to support and improving community quality, values. This company partners with entrepreneurs with businesses and organizations, both the newly created as well as those already established, and helps them connect to their community. Their mission is to help their partners network and find revenue streams opportunities, assets resource, as well as sponsors support, for their cause through community-based event’s.
For taxpayers who do not itemize their deductions, the CARES Act allows such individuals to deduct a cash contribution not to exceed $300 made to certain qualifying charities “above-the-line” in computing Adjusted Gross Income (AGI). Thus, the taxpayer is allowed to deduct up to $300 plus the Standard Deduction. For taxpayers who do itemize, the new law temporarily increases the limit (60% of Adjusted Gross income) on charitable giving for 2020. Charitable contributions in 2020 will be allowed to be deducted up to 100% of the taxpayer’s AGI, with any excess contributions available to be carried over for the next five years. For corporate donors, the 10% charitable giving limit of adjustable table income would increase to 20%. Please note, the above information is a general summary only and is not intended to be tax legal advice and should not be relied upon as such. Your tax situation is unique, and you should consult you qualified tax or financial adviser to determine how the CARES Act may apply to you.
Why FPP?
Companies like yours choose FPP to help them make a difference.
Award-winning!
No contracts, no hidden fees.
