Impact of the One Big Beautiful Bill on Charitable Giving
The One Big Beautiful Bill (OBBB) introduces new tax rules that may change the landscape of charitable giving.
Non-itemizing taxpayers will be able to claim a larger deduction for donations, potentially boosting charitable giving.
However, high-income donors may see their tax benefits reduced.
Key Changes to Tax Laws
- The OBBB brings four significant changes to tax laws affecting charitable giving.
Defining success in philanthropy depends entirely on the goals an investor is trying to achieve.
These changes aim to help investors achieve their goals, whether social, wealth transfer, personal, or tax-deductibility objectives.
Author's summary: The OBBB changes charitable giving tax rules.