Don’t Forget Us

Dear Friends,

We greatly appreciate your support of the Emergency Shelter of Northern Kentucky. As 2021 draws to a close, and as you consider your year-end charitable contributions, we want to make sure you’re aware that tax benefits provided by the Coronavirus Aid, Relief & Economic Security Act (CARES) have been extended and expanded to cover 2021 donations.

• Extension: $300 deduction for those who claim the standard deduction.
  Individuals who plan to take the standard deduction for their 2021 tax returns may claim an above-the-line deduction of up to $300 for cash donations to qualifying public charities. As many as 85 percent of Americans do not itemize their tax returns, making them previously ineligible for charitable deductions.
• Extension: AGI limit for cash contributions increased to 25 percent of taxable income for corporations.
  The AGI limit for cash contributions also remains increased for corporate donors. Corporations can deduct up to 25 percent of taxable income. Prior to 2020, this number was 10 percent.
• Extension: Charitable giving deduction limit increased to 100 percent of Adjusted Gross Income (AGI) on cash donations for those who itemize.
  Donors may continue to receive a federal income tax deduction for charitable contributions of up to 100 percent of their AGI for certain cash donations made during calendar year 2021. Prior to 2020, this number was 60 percent.
• Expansion: $600 deduction for married couples.
  For 2021, this above-the-line deduction is increased to $600 for cash donations for married couples filing jointly who do not itemize tax deductions.

We encourage you to speak with your financial and/or legal advisors about taking advantage of these charitable giving opportunities which may only be available until December 31, 2021.   Your donation is tax-deductible and financial contributions can be made using this button, by mail (ESNKY P.O. Box 332, Covington, KY 41012) or call us at (859) 291-4555 for help with a disbursement from your Donor Advised fund, making stock donations or planned gift.