President Trump's 'One Big Beautiful Bill' implements new tax benefits, making some TCJA changes permanent and introducing additional rules. Key changes include allowing standard deduction taxpayers to deduct cash contributions to charity starting in 2026. Previously established temporary measures allowed standard deduction filers to deduct $300 or $600 for cash donations. The latest law offers an above-line deduction of $1,000 for single individuals and $2,000 for married couples, though this does not extend to property contributions.
The new tax law allows taxpayers claiming the standard deduction to deduct charitable contributions, effective in 2026, expanding benefits beyond itemized filers.
Taxpayers can now take an above-line deduction of up to $1,000 for singles and $2,000 for married joint filers for cash donations.
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