traderspoc Posted May 26, 2020 Report Share Posted May 26, 2020 New IRS RULE, it is easier to take a tax deduction for a donation in 2020 to Have Hammer woodworking and CAD School We need your donation to keep our school Have Hammer Will Travel Woodworking and CAD classes from going out of business. The federal coronavirus stimulus bill, known as the CARES Act (Coronavirus Aid Relief and Economic Security Act), is giving single taxpayers the ability to receive a $300 deduction for donations even if they do not itemize their taxes in 2020. The change benefits taxpayers who take the standard deduction - it is up to $300 for individuals and $600 for those who are married and file jointly. “The CARES Act changes this by allowing taxpayers who do not itemize to deduct up to $300 of cash contributions to public charities with an above-the-line deduction on line 21 in tax years beginning in 2020,” Please donate to Have Hammer will Travel A.C. you can deduct the donation even if you do not itemize on your 2020 tax return new IRS rules for 2020 Write a check to the Foundation for Lake Chapala charities; drop it off at handymail box 4a note Have Hammer on check. See our web page for more info havehammer .org Or donate on our gofundme online. https://www.gofundme.com/f/zgeqm-a-cause-i-care-about-needs-help Thank you for those who donated when we started our campaign needing $104,000 pesos we have still have the need at this time for $44,200 pesos. About 1900 US dollars hopefully no new expenses will come up. If 19 people donate 100 US dollars each we will make our goal We have no cash flow, due to crisis; we need to stay solvent to help the kids learn a trade, Our school will be more important and needed with so many people unemployed. This help pay Lalo and Lalito or teacher’s salary during the covid 19 crisis and rent, cfe, telmex etc. Thank you for your donation and helping the boys and girls at our school. If need help with donation call me Wayne 766 1860 Quote Link to comment Share on other sites More sharing options...
traderspoc Posted May 26, 2020 Author Report Share Posted May 26, 2020 https://www.gofundme.com/f/zgeqm-a-cause-i-care-about-needs-help Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted May 26, 2020 Report Share Posted May 26, 2020 Wayne it is a wonderful cause but I'd be careful of suggesting to U.S. taxpayers that donation to a Mexican charity is tax deductible. This is dated April 3, 2020 Quote The IRS reminds donors that contributions to foreign organizations generally are not deductible. Taxpayers must itemize their deductions on Schedule A for the year in which they made the contribution in order to take a charitable contribution deduction.Apr 3, 2020 Charitable Contributions | Internal Revenue Service 1 Quote Link to comment Share on other sites More sharing options...
lakeside7 Posted May 26, 2020 Report Share Posted May 26, 2020 Interestingly Churches in Mexico are now being requested by the government to become AR in order to be recognised as a charitable organisation Quote Link to comment Share on other sites More sharing options...
traderspoc Posted May 27, 2020 Author Report Share Posted May 27, 2020 yes it is tax deductible as long as they follow instructions and donate directly to the Foundation for lake chapala charities a IRS 501 c3 or through gofundme website. Sorry if i confused you, Foundation for lake chapala charities is a US charity has been at lakeside for 10 years and over 14 mexican charities use them example Lake chapala society cruz roja etc use them donation from US tax payers I just informing that there is a new rule by IRS where in 2020 you can deduct 300 dollars as single and 600 as married on the front page of the US tax return, without itemizing. this new rule could Be missed when preparing their 2020 tax return. That someone donating to Have Hammer Will Travel A.C,. through the foundation is tax deductible in 2020, when in 2019 it was not, unless you itemizing on the back page of your tax return. Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted May 27, 2020 Report Share Posted May 27, 2020 Excellent. And I did miss that rule. Usually turbo tax points out stuff like that but this edition didn't. Quote Link to comment Share on other sites More sharing options...
traderspoc Posted May 30, 2020 Author Report Share Posted May 30, 2020 We need 19 more person to donate $100 dollars each to meet our goal thank you mike for your $50 donation on Gofundme https://www.gofundme.com/f/zgeqm-a-cause-i-care-about-needs-help Quote Link to comment Share on other sites More sharing options...
traderspoc Posted June 2, 2020 Author Report Share Posted June 2, 2020 anonymous thank you for the $100 dollar donation and helping the boys and girls at our school 18 more person to donate $100 us dollars we will make our goal to stay solvent to july 1st. Hopefully then we can open up tod bueno resale shop and our bingolago fundraiser nocash flow right now. thank you we are almost close to our goal Quote Link to comment Share on other sites More sharing options...
traderspoc Posted June 3, 2020 Author Report Share Posted June 3, 2020 THanj you for a $500 dollars donation through the Founation for lake chapal charities to donate that way make check out to Foundation for Lake Chapala Charities,, make note have hammer Drop off at handymail Box 4A marl on envelope Foundation Box 4a need 13 people more to donate $100 us dollars each, thank you for helping the boys and girls at ou school almotthere to rach our goal Quote Link to comment Share on other sites More sharing options...
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