New Limitations on Charitable Giving

tysllpCPA, Tax Accounting, Tax Planning, Tax Prep

New Limitations on Charitable Giving

🎁 Strategic Giving: How does the One Big Beautiful Bill Act change the rules for Charitable Giving deductions? The One Big Beautiful Bill Act (OBBBA) significantly alters the tax landscape for charitable giving, particularly for high-income itemizers and non-itemizers alike, beginning in 2026. Specifically, the Act imposes a new 0.5% Adjusted Gross Income (AGI) floor for individual itemizers. Furthermore, it … Read More