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New Rules on Deductions of Charitable Contributions
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Making cash donations to public charities helps others while also reducing your federal income tax bill. But the new tax law limits how much itemizers may deduct in a given year and expands the amount non-itemizers may claim. Amber Arnold/Wisconsin State Journal/AP
CNN —
If you regularly make donations to tax-exempt charities and non-profits, you should be aware of upcoming rule changes governing how much of your contributions will be deductible.
Some of the changes, which are in President Donald Trump’s recently enacted federal tax-and-spending cuts package, affect filers who take the standard deduction. Others affect filers who itemize — which you do when your individual deductions combined exceed the standard.
Here’s a rundown of some key changes that will take effect in 2026:
Non-itemizers may deduct more in cash gifts
In the first two years of the pandemic, if you took the standard deduction on your federal income tax return, you also were allowed to deduct an additional $300 ($600 for married couples filing jointly) for charitable cash gifts you made. That special provision then expired.
But, starting in 2026 you will be allowed to deduct up to $1,000 in cash donations ($2,000 for joint filers).
“This applies only to direct cash gifts to qualifying 501(c)(3) charities — not donor-advised funds or private foundations,” said Tom O’Saben, director of tax content and government relations at the National Association of Tax Professionals.
New limit placed on how much itemizers may deduct
Starting in 2026, those who itemize their deductions will — for the first time — be allowed to deduct their cash contributions only to the extent they exceed 0.5% of their adjusted gross income.
For example, say your adjusted gross income is $100,000. You will be allowed to deduct the amount of your total cash gifts minus $500 (0.5% of $100,000. So if you make $2,000 in cash contributions, you only will be allowed to deduct $1,500.
An existing rule that further limits itemizers will remain in effect: It sets a ceiling for how much you may deduct of your contributions to public charities in a given year. Specifically, you can’t deduct the portion of your cash donations that exceed 60% of your AGI in the year you make them, O’Saben said. (The AGI limit is typically 30% for cash gifts made to donor-advised funds and private foundations, he added.)
But you may be able to deduct any cash gifts you made outside the allowable limits in the next tax year. That’s thanks to another existing rule that lets itemizers carry forward their “excess” contributions for five years and deduct them on future returns. The “excess” is any portion of your cash donations that exceeds the AGI ceiling and, starting next year, falls below the new floor of 0.5% of AGI.
Say your AGI is $100,000 next year. You will be allowed to carry forward the first $500 of your cash gifts (0.5% x $100,000) plus any remainder of your donations above $60,000 (60% of your AGI).
Value of high-income filers’ deductions will be capped
The value of one’s deductions for anyone whose taxable income puts them in the top tax bracket of 37% will be treated as if they were in the 35% bracket.
Here’s how that will work: Say you itemize and are allowed to deduct $10,000 in cash donations after accounting for the new 0.5% of AGI rule above. Typically, the itemized charitable deductions will reduce your tax bill by an amount equal to your top tax rate multiplied by your deductible cash donations.
But if you’re in the 37% bracket, you won’t get the full $3,700 (37% x $10,000) in tax savings. You will reduce your tax liability by only $3,500 (35% x $10,000), O’Saben
Tax break for non-cash gifts also limited
If you itemize, any non-cash contributions you make – such as clothes, food or household goods – are also subject to the new 0.5%-of-AGI floor.
If you’re taking the standard deduction, you won’t be able to deduct your non-cash contributions since the $1,000/$2,000 limit for non-itemizers applies only to cash gifts.
New Rules on Deductions of Charitable Contributions
Happy Holidays Hurricane Helene & Milton Emergency Response
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Opulent Philanthropy Inc. nonprofit organization dedicated to serving the needs of our local community. From providing food and shelter to those in need. We are committed to making a positive impact on the lives of those around us. By supporting Opulent Philanthropy Inc., you are supporting your community and helping to build a brighter future for all.
Hurricane Helene and Milton Emergency Response Fund:
Every contribution, big or small, will bring much-needed assistance to families struggling in the aftermath of this disaster.
Here's how your donation can help:
$200 can provide a care package with essential supplies for families in need.
$1,000 can help ensure displaced families have access to food and shelter.
$1,000 can contribute to debris removal efforts, making neighborhoods safe and accessible again.
Milton slams Florida: Hurricane Milton made landfall near Siesta Key, Florida, as a dangerous Category 3 storm and weakened to a Category 1 as it cut through the state and moved offshore. Deadly tornado outbreak: Four people have so far been confirmed dead in St. Lucie County following tornadoes there, county officials said. The state is anticipating more casualties, according to Gov. Ron DeSantis.
A thousand-year flood: Milton dropped more than 18 inches of rain on St. Petersburg, representing a more than a 1-in-1000-year rainfall event for the area.
Power outages and destructive wind: Milton, the third hurricane to hit Florida this year, has knocked out power for more than 3 million people in the state. Wind gust of 100 mph was recorded near Tampa. Milton ripped off the roof of Tropicana Field, which was set to be a makeshift shelter for first responders.
With all she had, Hurricane Helene slammed int Florida's coast late Thursday night, dumping heavy rain, forcing water rescues, and leaving millions without power.
Helene made landfall as a Category 4 hurricane about 11:10 p.m. ET near Perry, Florida, with 140 mph winds, the National Hurricane Center reported.
The storm, which now marks the first known Category 4 storm to hit Florida’s Big Bend region since records began in 1851, weakened to a tropical storm early Friday morning as it barreled through Georgia, causing life-threatening flooding in Atlanta and the Carolinas. As of the 11 am, Tropical Storm Helene was 30 miles south of Bryson City, North Carolina, with maximum sustained winds of 45 mph, moving north at 32 mph.
In Tampa Bay, one resident described seeing vanished beaches, boats crashed into homes, and businesses on fire.
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Many victims of natural disaster find themselves left out of the recovery often relying on the generosity of others to bounce back. Nonprofits and others provide assistance, but the process is difficult to navigate.
Right after a natural disaster, say, a hurricane, tornado, wildfire, major flood, earthquake or volcano, there is usually an outpouring of generosity and support for those affected, often in the form of material needs. But a few weeks into the recovery effort, that support and all the donated goods that poured in dwindle.
Often victims, having survived the initial onslaught, fall through the recovery cracks. They may not be covered by insurance or eligible for a small business loan, and the support FEMA can provide may be limited.
There are many reasons why people may suffer disproportionately after disaster. Some of it is obviously financial, those living near or below the poverty line struggle to cobble together the necessary resources to adequately prepare or take action when disaster strikes. She said the elderly often possess less technological access and fewer social connections, and those for whom English is a second language are vulnerable as well.
Recovery is a long, arduous process, even for those eligible for some assistance. But for some, like those mentioned above, the process is even worse and many never fully recover. A year after a hurricane, tornado, wildfire, major flood, earthquake or volcano, many people are still in temporary housing. As a country, we’re now getting pretty good at immediate-relief response, but long-term recovery is not as well coordinated, in part because the funds available dry up and the world moves on to the next disastrous event leaving many behind.
Oftentimes the survivors might lack the wherewithal to navigate their way through the various sources and programs necessary to receive aid. “One of the things that we see is that for people who are not well educated or have some sort of disability, getting through this maze is a really challenging thing.”
The extent of the recovery often depends on the nature of the disaster as well. Disasters can cause total destruction, where some people lost everything:
- Hurricanes; When the force of a hurricane bears down on residential structures, homes can be ripped apart by the storm’s powerful winds. Storm surge and inland flooding can also cause catastrophic damage leaving a home with mold, mud and needing a lot of rehab.
- Tornadoes cause substantial wind damage to property. This causes high stresses on structures and can lead to damaged windows, roof damage, and in severe cases, complete structural failure. Wind damage can also cause damage to property by disrupting containers on the property containing chemicals or other materials. Tornadoes lift a house off its foundation and completely destroy the home.
- Earthquakes may instantly kill or incapacitate a large number of people, cause huge destruction to structures, and weaken the buildings reducing their useful life. The damage is the maximum close to the epicenter, the point from where the vibrations are initiated.
- Volcanoes can break houses apart, cause big mud/landslides which can kill people easily. The pyroclastic flow is caused by rocks and other things from the volcano which are heavy. The gases that they give off toxic and harmful gases which can seriously injure if not kill you.
International, Disaster Relief, Charity
Our Mission
Opulent Philanthropy Inc. Non Profit Organization
Our mission is to help people who face challenges and hardships that threaten their well-being and dignity. We offer four main programs that address some of the most pressing issues in our world today:
- Our national and international disaster relief services provide immediate assistance and long-term support to communities affected by natural disasters, such as earthquakes, floods, hurricanes, and wildfires. We help people evacuate, find shelter, access food and water, and rebuild their lives.
- Our cancer care services support cancer patients who struggle to afford medical treatments, copayments, or aftercare services that may not be covered by their insurance. We help them pay for their expenses, connect them with resources, and offer emotional support.
- Our nonprofit’s scholarship program includes grants that cover a range of academic expenses. These grants are specially tailored for students from low-income families who might struggle to afford textbooks, course materials, or a stable place to live. Many scholarship recipients would be forced to take on excessive jobs or high-interest loans just to cover these costs. Our nonprofit’s support alleviates that burden, allowing students to focus on their studies without the constant stress of financial instability.
- Homelessness Prevention: We support the homeless by providing temporary shelter, food, and water, as more people than ever are living on the streets without the basic necessities to survive, many find this way of life unbearable. We reach out to help them find permanent housing, employment, and social services.
Our staff, volunteers, and those we serve work together to provide assistance to those in need due to circumstances beyond their control. We empower the most vulnerable among us and improve their quality of life. If you would like to volunteer in your community, please contact us.
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Opulent Philanthropy Inc.
Founded 2011
Our Core Values
We embrace and cultivate respect, trust, open communication, and diversity of thought and people. We are responsible stewards of the environment and a champion for reforestation, cancer, homelessness, disasters and education.
Business Description
Formed in 2011, our CEO Ron Dewitt has over 30 years of business experience. The organization provides shelter, food and water around the world. Opulent helps all cancer patients in the United States. Provide resources to the homeless, and scholarships to the underprivileged. The organizations strength is through volunteers and partners.
Opulent Philanthropy Equity Commitment
Opulent Philanthropy Inc. employs an initiative-taking strategy to provide access, opportunity, and prosperity for all people. We help communities, families, and individuals that have been disrupted by both the virus and its fallout, unemployment, lack of access to education and health care, natural disasters, disease, and more. Opulent facilitates disaster relief and financial assistance for cancer patients. We provide resources to impoverished families including scholarships for students that have been affected by systemic inequities, racism, and implicit bias to help them become self-sufficient and to achieve their full potential. We realize that education, criminal justice, health care, housing, and the economy, must be impartial and inclusive to empower individuals to fully contribute to their communities and allow impoverished communities to flourish.
Corporate Principles
Focusing on the communities in which we operate around the world, our initiatives to promote equity are guided by the following principles:
- Recognizing relevant situations visualized as hate, or racism, we provide resources to assist victims of such injustices.
- Recognizing that the systems in place leave the indigent oppressed and stuck in a "poverty trap", we provide scholarships for higher education to help break the cycle of poverty for individuals and subsequently their communities around the world.
- We listen to the voices of the people in the communities we help, because the cries of equality are relevant and insightful. We are committed to elevating the voices of those who live experiences of hate, racism and oppression by putting policies in place that are just and fair to help people enjoy their full potential.
- We recognize that the impacts of natural disasters, unemployment, the COVID-19 pandemic, and homelessness happen in an instant, but can have long lasting implications. Our goal is to provide immediate relief and assistance to those effected by life altering circumstances. Charity > International
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- Opulent Philanthropy Inc. 12223 Briar Forest Dr., Houston TX, 77077 has been IRS approved. Therefore, your donation is deductible. You may go to IRS Exempt Organizations select check. This site allows you to enter the name and location of an organization and find out instantly if it qualifies. Opulent Philanthropy Inc., Charity Donate!
- Without your help some people would have a very hard time starting over after a tragedy happens in their lives. We want to thank all our donors who gave from the heart and made it possible for Opulent Philanthropy Inc., to help those in need.
- Internationally, we are aiding people of, Cyclone Idai, Cyclone Fani, Kyoto Animation Studio Arson and Chennai Water Crisis. And we remain active internationally with disaster relief around the world.
- Locally, we are aiding people of the Floods in the Heartland, Beauregard Tornadoes, Gas for Federal Workers , Virginia Beach Mass Shooting, Mississippi River Flooding, Oklahoma Tornadoes, U.S. Disaster Relief, Garlic Festival and Hurricane Barry. And we remain active locally with disaster relief in the United States.
- Beyond Disaster Relief at home and internationally, we continue to provide our services for the homeless, cancer patients and education.
- Chairman: Serving people at home and abroad, I, Ron Dewitt, am honored to be chairman, of Opulent Philanthropy Inc., humanitarian organization. People coming together to help other people is our formula called love, and this formula prevents human suffering.
