2 ways the pandemic can change your taxes for 2020, and how to prepare - Business Insider

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Tax season, when it will be time to file your 2020 taxes, is right around the corner.

. I want to help you to get smart about your situation now, so you know what to expect and what steps to take now so there are no surprises at tax time.Let's start with good news: a new tax break allows people who don't itemize the opportunity toYou'll get to deduct up to $300 from gross and taxable income on your return, reducing the amount of taxes owed.

The rules for recordkeeping still apply for the donation. If you donate less than $250, you must have either a bank record such as a cancelled check or credit card statement or a receipt showing the name of the charity, date and amount of the donation. If you donate $250 or more, you need a written acknowledgment from the charity.The pandemic closed many offices and sent people home to work. If

means you don't cross a state line you usually cross or, in some cases, don't enter a different city, you should keep detailed records of: If and when your employer reopened your office and invited you back to work

 

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