Charitable Givers Get a New Tax Break

Oct 1, 2026 | Tax & Accounting

Beginning in 2026, taxpayers who take the standard deduction may deduct up to $1,000 of qualifying charitable contributions, or up to $2,000 for married couples filing jointly. Only cash contributions qualify, such as gifts made by check, debit or credit card, payment app or payroll deduction. Contributions of property, such as clothing, household items or securities, don’t qualify.

If you expect to claim the standard deduction, you may want to make qualifying charitable gifts before December 31. Doing so could reduce your taxable income while supporting causes that are important to you. Keep records supporting any deduction claimed. Contact the office with any questions.

 

 

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