Expert: Tax law shift in 2026 could save taxpayers money
Roy Abramowitz says taxpayers can keep donating to their favorite charities, but they'll have a new incentive to do so on New Year's Day.
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A tax expert says a major shift in tax law is coming Jan. 1, and it could save taxpayers money.
Roy Abramowitz says non-itemizing taxpayers can deduct up to $1,000 for charitable donations, while married couples can deduct up to $2,000.
"You can wait until the beginning, January 2026, instead of year-end, December 2025, and make the same charitable contribution to a public charity and get a tax benefit in 2026 instead of making it in 2025 and getting no benefit," Abramowitz says.
He adds, bottom line, taxpayers can keep donating to their favorite charities, but they'll have a new incentive to do so on New Year's Day.
