What is the CARES Act?
The coronavirus relief and stimulus bill passed in March 2020, and it provides the following charitable incentives:
Special Tax Deductions: During 2020, any donors who do not itemize when filing their tax returns will be allowed to take a special tax deduction, up to $300, to reduce their tax liability.
Increased Deduction Limit on Cash Gifts: This year, for donors who itemize their tax returns, the cash gift deduction limit increased from 60% to 100% of a donor’s annual income.
A gift to the University of Miami – big or small – immediately makes a difference in supporting innovative education, impactful research, clinical care, and scholarship.
Your benefits may vary depending on several factors; consult your advisor to determine your actual benefits.
Act Now!
Donate by December 31, 2020, to take advantage of these charitable giving incentives.
Did you know that there are tax provisions in the CARES Act bill passed in March 2020?
You can give back to the area of the University of Miami that is most meaningful to you by December 31 by using one of these special tax incentives that make charitable giving more beneficial to donors this year.
Why are donations necessary?
The University of Miami builds a culture of giving and participation through gifts from alumni, parents, friends and students by educating them on the needs of the University and involving them in the life of the University. This culture is encouraged and enhanced by donor-centric, best-in-class integrated strategies that are driven by metrics, fundraising trends, and the latest technology.