Yellow Dog Productions | The Image Bank | Getty Images
If you plan to donate money on Giving Tuesday, you could score a tax break. But recent changes enacted via President Donald Trump’s “big beautiful bill” could affect your savings, financial experts say.
Some 36.1 million U.S. adults participated in Giving Tuesday for 2024, with donations totaling $3.6 billion, up from $3.1 billion in 2023, according to estimates from GivingTuesday Data Commons.
Despite economic uncertainty in 2025, high assets in donor-advised funds could continue to bolster philanthropy in the coming years, according to an analysis from consulting firm RSM. These funds, which act like a charitable checkbook, allow donors to receive immediate tax deductions for their contributions and then grant the money to nonprofits over time.
If you’re preparing to write a check on Giving Tuesday 2025 or before year-end, here are some key things to know about Trump’s tax law changes.
Wait until 2026 for smaller cash gifts
When filing returns, you take the greater of the standard deduction — $15,750 for single filers and $31,500 for married couples filing jointly in 2025 — or your itemized tax breaks, which include deductions for charity, state and local taxes and medical expenses, among others.
The vast majority of taxpayers use the standard deduction, according to the latest IRS data, which prevents most people from claiming the charitable deduction.
But starting in 2026, Trump’s tax law added a new charitable tax break for non-itemizers, worth up to $1,000 for single filers and $2,000 for married couples filing jointly.
If you’re planning to donate cash in 2025 and don’t itemize deductions, “wait until next year,” said Thomas Gorczynski, a Tempe, Arizona-based enrolled agent. An enrolled agent has a tax license to practice before the IRS.
Higher earners should donate more in 2025
Another 2026 change affects higher earners who could see a smaller charitable deduction, thanks to Trump’s legislation.
After 2025, there’s an itemized charitable deduction “floor,” which only allows the tax break once it exceeds 0.5% of your adjusted gross income. Plus, the new law caps the benefit for filers in the top 37% income tax bracket, also beginning in 2026.
High-income itemizers “should seriously think about making that contribution in 2025 as opposed to 2026,” said Bob Petix, senior wealth strategist for Wells Fargo Wealth and Investment Management.
One option is “bunching” multiple years of gifts into 2025 via a donor-advised fund, which allows future gifts to eligible charities of your choice, experts say. The strategy would provide an upfront charitable deduction for 2025 before the limits change in 2026.