07/06/2026
๐ช๐ถ๐น๐น ๐บ๐ ๐ฐ๐ต๐ฎ๐ฟ๐ถ๐๐ฎ๐ฏ๐น๐ฒ ๐ฑ๐ผ๐ป๐ฎ๐๐ถ๐ผ๐ป๐ ๐๐๐ถ๐น๐น ๐น๐ผ๐๐ฒ๐ฟ ๐บ๐ ๐๐ฎ๐
๐ฏ๐ถ๐น๐น ๐ถ๐ณ ๐ ๐ถ๐๐ฒ๐บ๐ถ๐๐ฒ ๐ฑ๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป๐?
Yes, but starting in 2026, itemizers have a new threshold to clear first.
If you itemize deductions, only the portion of your charitable giving that exceeds 0.5% of your Adjusted Gross Income (AGI) can be deducted.
Here's a simple example:
โข AGI: $200,000
โข 0.5% threshold: $1,000
โข Charitable donations: $5,000
In this case, the first $1,000 of giving doesn't count toward your deduction. The remaining $4,000 is potentially deductible.
That's why larger donors may want to start planning before year-end.
One strategy is a Donor-Advised Fund (DAF), which can allow multiple years of charitable giving to be grouped together in a single tax year.
If charitable giving is part of your tax planning, now is a good time to estimate where you stand for 2026 and see how these new rules could affect you.
Comment GIVE below if you'd like help reviewing your charitable giving strategy.