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[Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill (OBBBA)
For tax year 2025, you must still itemize in order to claim charitable contributions on your tax return.
For tax year 2026, the ability to claim charitable contributions without itemizing will take effect. Here are some highlights for this new provision:
- The deduction will be up to $1000 ($2000 if married filing jointly)
- Deductions must be made in cash
- The donation must be made to qualified public charities - use this link to determine if the charity qualifies: IRS Tax Exempt Organization Search
Wednesday
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