One good thing about 2020 – the CARES Act

Deduction Expires 12/31/2020

On March 27, 2020, the CARES Act was signed into law. Unlike 2019, when your charitable contributions were generally useless from a tax perspective, the CARES Act changed that. How?

1. Even if you don’t itemize, you may be able to deduct up to $300 in annual charitable contributions this year. It is an “above the line” adjustment to income that will reduce a donor’s adjusted gross income (AGI), and thereby reduce taxable income.

2. Even individuals and corporations that itemize can benefit. Individuals can elect to deduct donations up to 100% of their 2020 AGI (up from 60% previously). Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%. Act now!! The CARES Act may not be extended to 2021.

MAJOR AIRLINES Alaska Airlines – Pet in cabin – $100.00 USD each way Pet in baggage – $100.00 USD each way. Animal doesn’t have to be owned the traveler and can be a rescue pet. • The pet carrier counts toward your carry-on bag allotment. You may bring either a pet carrier and a personal item, or a pet carrier and a standard size carry-on bag. You may not board the aircraft with a pet carrier, a standard size carry-on, and a personal item. • A customer may travel with a maximum of 2 pet carriers in the main cabin, only when the adjacent seat is purchased by the same customer. • Pets allowed in the passenger cabin are dogs, cats, rabbits, and household birds. Dogs and cats must be at least 8 weeks old and must have been fully weaned. • Up to 2 pets of the same species and similar size may travel in the same carrier, provided no body parts protrude from the carrier and the animals are not in distress. Brachycephalic or “short-nosed” dogs and cats are not accepted for travel in the cargo compartment on Alaska Airlines flights (including flights operated by Horizon, SkyWest, or PenAir). Dogs: boston terrier, boxer (all breeds), bull dog (all breeds), bull terrier, brussels griffon, chow chow, english toy spaniel, japanese spaniel/japanese chin, mastiff (all breeds), pekingese, pit bull (all breeds), pug (all breeds), shih tzu, staffordshire terrier. Cats: Burmese, Exotic Shorthair, Himalayan, Persian. All pets traveling in the cargo compartment on Alaska Airlines (including flights operated by Horizon, SkyWest and PenAir) must have a health certificate dated within 10 days of initial travel and 30 days of return travel, when the return flight is booked in the same record. Pets traveling on a return flight booked in a separate record are required to have a health certificate dated within 10 days of that flight. A health certificate is not required for pets traveling in the cabin with their passenger; however, many states have specific importation health and vaccination requirements.
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