{"id":38682,"date":"2025-11-29T15:17:04","date_gmt":"2025-11-29T15:17:04","guid":{"rendered":"https:\/\/financialrush.com\/?p=38682"},"modified":"2025-11-29T15:17:04","modified_gmt":"2025-11-29T15:17:04","slug":"how-trumps-big-beautiful-bill-impacts-your-giving-tuesday-tax-break","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=38682","title":{"rendered":"How Trump’s ‘big beautiful bill’ impacts your Giving Tuesday tax break"},"content":{"rendered":"

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Yellow Dog Productions | The Image Bank | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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If you plan to donate money<\/a> on Giving Tuesday, you could score a tax break<\/a>. But recent changes enacted via President Donald Trump<\/a>\u2018s \u201cbig beautiful bill\u201d<\/a> could affect your savings, financial experts say.\u00a0\u00a0\u00a0<\/p>\n

Some 36.1 million U.S. adults participated in Giving Tuesday for 2024, with donations totaling $3.6 billion<\/a>, up from $3.1 billion in 2023, according to estimates from GivingTuesday Data Commons.<\/p>\n

Despite economic uncertainty in 2025, high assets<\/a> in donor-advised funds<\/a> could continue to bolster philanthropy<\/a> in the coming years, according to an analysis from consulting firm RSM. These funds, which act like a charitable checkbook, allow donors to receive immediate tax deductions for their contributions and then grant the money to nonprofits over time.<\/p>\n<\/div>\n

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More from Financial Advisor Playbook:<\/h2>\n
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Here\u2019s a look at other stories affecting the financial advisor business.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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If you\u2019re preparing to write a check on Giving Tuesday 2025 or before year-end, here are some key things to know about Trump\u2019s tax law changes.\u00a0 <\/p>\n<\/div>\n

Wait until 2026 for smaller cash gifts<\/h2>\n
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When filing returns, you take the greater of the standard deduction \u2014 $15,750 for single filers<\/a> and $31,500 for married couples filing jointly in 2025 \u2014 or your itemized tax breaks, which include deductions for charity, state and local taxes<\/a> and medical expenses, among others. <\/p>\n

The vast majority<\/a> of taxpayers use the standard deduction, according to the latest IRS data, which prevents most people from claiming the charitable deduction.\u00a0<\/p>\n

But starting in 2026, Trump\u2019s tax law added a\u00a0new charitable tax break<\/a>\u00a0for non-itemizers, worth up to $1,000 for single filers and $2,000 for married couples filing jointly.<\/p>\n

If you\u2019re planning to donate cash in 2025 and don\u2019t itemize deductions, \u201cwait until next year,\u201d said Thomas Gorczynski, a Tempe, Arizona-based enrolled agent. An enrolled agent has a tax license to practice before the IRS.<\/p>\n<\/div>\n

Higher earners should donate more in 2025<\/h2>\n
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Another 2026 change affects higher earners who could see a smaller charitable deduction, thanks to Trump\u2019s legislation. <\/p>\n

After 2025, there\u2019s an itemized charitable deduction \u201cfloor,\u201d which only allows the tax break once it exceeds 0.5% of your adjusted gross income. Plus, the new law caps the benefit for filers in the top 37% income tax bracket<\/a>, also beginning in 2026.<\/p>\n

High-income itemizers \u201cshould seriously think about making that contribution in 2025 as opposed to 2026,\u201d said Bob Petix, senior wealth strategist for Wells Fargo Wealth and Investment Management.<\/p>\n

One option is \u201cbunching\u201d multiple years of gifts into 2025 via a donor-advised fund, which allows future gifts to eligible charities of your choice, experts say. The strategy would provide an upfront charitable deduction for 2025 before the limits change in 2026.<\/p>\n<\/div>\n

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