The last quarter of 2025 is nearly here. It’s a time when many people determine their year-end charitable donation strategy. In light of changes under the new tax law, it might be smart to rethink your 2025 giving. Beginning in 2026, you can deduct donations only to the extent they exceed 0.5% of your adjusted gross income. To maximize your overall tax savings, consider making larger donations this year to take advantage of the current law. The law also includes a deduction for nonitemizers. Beginning in 2026, they can deduct up to $1,000 ($2,000 for married joint filers) for qualified charitable contributions. Contact us with questions about your situation.
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