Series Episode 12 | One Big Beautiful Bill
New tax break on charitable giving, even without itemizing!
Starting in tax year 2026, the One Big Beautiful Bill Act introduces an above-the-line deduction for charitable donations, up to $1,000 for single filers or $2,000 for married couples, without needing to itemize.
For those who do itemize, there’s a new rule: you must exclude the first 0.5% of your adjusted gross income (AGI) from your charitable deductions. For corporations, that floor is 1% of taxable income. Your total deduction remains capped at 10% of your AGI.
This is a game-changer for everyday donors, if you make cash contributions but don’t itemize, you can still get a tax benefit.
Want help prioritizing your giving strategy?
Schedule a consultation with Leader CPA today.
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