We’re Still Building!

Posted April 22nd, 2020 by Candace Johnson

From Our HabiJax Family to Yours:

We pray this message finds you and your loved ones well. As you surely know, the current pandemic has created scores of new challenges, and compounded existing ones.  Our community’s crisis around affordable housing is one such example.  Now more than ever, a decent place to live is not only something everyone deserves, but is also critical safety issue.

For that reason, we continue to build using key construction staff, and subcontractors, all of whom are observing social distancing guidelines. We have dozens of clients who have done everything we have require them to complete (homebuyer education, volunteer hours, etc.), and we owe it to them to finish their house, where they take shelter with their loved ones.

To help these families face down the challenges wrought by COVID-19, we need your help.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), contains several new tax advantages to encourage charitable giving. Some of the key provisions are highlighted below:

  • New $300 Deduction for Qualified Charitable Donations 
    Individuals who take the standard deduction can claim an above-the-line tax deduction for cash donations to qualified charitable organizations, up to $300 per person.
  • 60% of AGI Limit Suspended for 2020
    For the 2020 tax year, individuals can deduct any cash contributions made to qualified charitable organizations, up to 100% of their adjusted gross income (AGI). Deductions for cash donations were previously limited to 60% of the taxpayer’s AGI.
  • Corporations’ 10% Limit Increased to 25% for 2020
    For the 2020 tax year, corporations can deduct up to 25% of the taxpayer’s taxable income for any cash contributions made to qualified charitable organizations. Deductions for cash donations were previously limited to 10% of the taxpayer’s taxable income.

Please follow this link to make a donation in support of affordable housing in your community:

https://habijax.org/donate/

Be assured that as we make it through this period, we will work harder than ever to meet the needs of the families we serve.

We appreciate your continued support towards our vision of one day seeing a world where everyone has a decent place to live. We are praying for you and your family.

In partnership,

Mary Kay O’Rourke.

* This is not intended to be tax advice. As always, we encourage you to consult with your tax professional to determine the best strategies for your situation.


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