Your tax deductible donation to The New Sports Economy 501(c)(3) will help further our mission and bring financial literacy to the masses, while helping to turn sports into an asset class, creating millions of new jobs, provide economic stimulus and help support the middle class. Our immediate needs are to build the order book by bringing on new sports leagues across the globe that need to raise capital for their teams.
Universal Deduction for Donations Up to $300
For the over 9 out of 10 people who no longer itemize their charitable giving, the CARES Act will allow these individual taxpayers to deduct donations to charity of up to $300 on their 2020 federal tax return, even though they take the standard deduction. Married-filing-jointly taxpayers will get an above-the-line deduction of up to $600.
Raising the Charitable Giving Deduction Cap
For those donors who are still able to itemize their deductions, and therefore directly write off gifts to charity, the current deduction cap is 60% of adjusted gross income*. Corporations are able to deduct charitable donations up to 10% of taxable income.