For this year only, you can still get a tax deduction on charitable giving! And just in time to take advantage of this tax break, we have created True Texas Education!
TTE is
a 501(c)3 nonprofit organization focused on educating citizens on all
aspects of government, with emphasis on teaching constitutional
governance and being responsible citizens. Donations to True Texas Education ARE tax deductible as a charitable donation, and are used to fund our
outstanding educational offerings like Constitution Boot Camp and some
of our educational speakers at TTP monthly meetings.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress on March 27, 2020. Among other things, the legislation included provisions expanding charitable giving tax deductions for 2020.
You can deduct your gift to our new 501(c)3 organization "True Texas Education", even if you take the standard deduction. The CARES Act allows for up to $300 per taxpayer (or $600 for a married couple) in an “above-the-line” deduction for charitable gifts made in 2020 and claimed on taxes in 2021.
This means you can lower your income tax bill by giving to our work on or before December 31, 2020, even if you take the standard deduction on your taxes.
If you itemize deductions, there are new charitable deduction limits. The CARES Act increases the existing cap on charitable cash contributions for those who itemize, raising it from 60% of adjusted gross income to 100% in 2020. Please talk with your accountant or tax professional to learn more.
To take advantage of this temporary change in the tax law – and support the work of True Texas Education – make your gift on or before Dec. 31, 2020.
To donate to True Texas Education by mail, send checks to True Texas Education, 1220-G Airport Freeway, #602, Bedford, TX 76022.
Our new charity is so new, we have not yet created online giving, but that will come in the new year. For now, we appreciate you writing that check and getting us started!
Merry Christmas!
Julie McCarty, CEO
Fran Rhodes, President
Bob Smith, Treasurer
PS. Please note this is a new entity. We do not want this donation to replace any donations to TTP or TTP PAC.
