Core Insights - Tax laws are changing significantly in 2026, impacting both itemizers and non-itemizers regarding charitable contributions [2] Group 1: Changes for Itemizers - Itemizers are advised to make charitable donations this year to maximize their deductions before the new rules take effect [3] - 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 top earners [7] Group 2: Changes for Non-Itemizers - Non-itemizers, who represent about 90% of filers, are encouraged to delay charitable contributions until 2026 to take advantage of new deduction opportunities [3][6] - Beginning next year, non-itemizers can claim a deduction for cash donations up to $1,000 for single filers and $2,000 for couples filing jointly [8] - This new deduction mirrors the temporary deductions provided during the COVID-19 pandemic, which significantly increased charitable donations [9]

It’s nearly the end of the year, the traditional time for giving but before opening your wallet, you should know how tax rules are changing so you can maximize your gifts. Charitable tax deductions are about to see the biggest changes in nearly a decade in 2026 thanks to President Donald Trump’s tax and spending package. The new rules affect both itemizers and non-itemizers, but differently. Depending on which you are, financial experts have different advice for how to handle charitable contributions this ...