How Trump's charitable tax deduction laws may influence when you give

Core Insights - Charitable tax deductions will undergo significant changes in 2026 due to President Trump's tax and spending package, impacting both itemizers and non-itemizers differently [2] Itemizers - Itemizers are advised to make charitable contributions this year to maximize their deductions before the new rules take effect [2] - Starting in 2026, itemizers will face two major changes: a 0.5% adjusted gross income (AGI) floor for deductible contributions and a 35% cap on the tax benefit from itemized deductions for those in the top tax bracket [5][6] Non-Itemizers - Non-itemizers, who represent about 90% of filers, will be able to claim a charitable contribution deduction starting next year, with cash donations capped at $1,000 for single filers and $2,000 for couples filing jointly [5] - The new deduction for non-itemizers is similar to the temporary deductions during the COVID-19 pandemic, which significantly boosted donations among small donors [7]