Give to Max Day is Today!
Hello, All—
As you prepare for this year’s Give to the Max Day (today, Thursday 11/20) as well as future contributions, please read the following regarding tax breaks for your charitable contributions. Thank you for considering a donation to the Chaska Historical Society, an all-volunteer 501(c)3 nonprofit this year! As always, you will receive a written acknowledgment of your gift that states that you received no goods or services in exchange for any part of the gift.
Kind regards,
Lisa Oberski, President
Chaska Historical Society
More About Charitable Deductions (good news for taxpayers of any age)
Adapted by Larry Meuwissen (excerpted and adapted from an article in USA Today)
Beginning in 2026, tax filers who claim the standard deduction may be allowed to take a new above-the-line deduction for cash contributions to qualifying charities.
You will not need to itemize deductions to claim this new tax break.
Many people aim to write checks to their favorite charities sometime before Dec. 31, as part of year-end giving. But this year, some new tax rules mean that one group of tax filers might want to give more money in 2025 than they planned. And another group could be better off pushing their cash donations into January.
Nothing is simple when it comes to the new rules in the so-called “One Big Beautiful Bill Act”, which became law on July 4, 2025.
The new deduction — which would apply to your 2026 federal income tax return that's filed in 2027 — is limited to $1,000 for single filers and $2,000 for married couples filing jointly, per year. Experts say there is no provision to adjust these amounts for inflation. Because this tax break will not apply to your 2025 return, some tax planners are recommending that some who take the standard deduction write checks to charities in 2026, instead of rushing to give in late 2025.
The deduction is only available for cash contributions made to qualified charitable organizations Non-cash donations, like donating clothing or other goods, will not qualify for the new tax deduction for non-itemizers. Also, cryptocurrency, including bitcoin, is not considered “cash” for this deduction.
On your 2025 federal income tax return, you generally can only deduct charitable contributions if you itemize. But, if you claim the standard deduction — and donate money in 2025 — you're not getting any tax break for that charitable contribution.
Waiting just a few weeks could save you some tax dollars. If you're in a 22% tax bracket, you could be looking at savings of $220 if you're single and you donate $1,000 in 2026. The tax break would jump to $440 in this example, if you're married and you donate $2,000 in 2026. Wouldn’t it be nice to share that windfall by making or increasing your gift to the Chaska History Center? For example, a single person could keep the tradition of December giving by making half of her normal annual contribution in January 2026 and the second half (along with some of that tax bonus) in December 2026.
As always, you need to keep records. For any cash gift that exceeds $250, you should be sure to get a written acknowledgement from the charity stating that you received no goods or services in exchange for any part of the gift.
