Financial experts Scott and Peter Graham of Alpha Omega Financial share insights for charitable giving as the year draws to a close.
What types of donations qualify for tax deductions?
Generally, monetary donations to a qualified charity, such as a 501(c)(3) public organization, may be tax deductible. Donations of clothing, furniture, or household items to qualified charities may also be deductible.
How can I make sure my donations are actually making an impact?
You can verify a charitable organization’s annual report or its IRS Form 990, which can be found on the charity’s website or through third-party websites.
How can I plan now to make next year’s charitable giving more intentional?
The end of the calendar year is a great time to review your annual household budget for the upcoming year. You can create intention behind charitable giving by determining your budget and by identifying organizations you'd most like to support. Creating this plan in advance allows individuals and families to more efficiently allocate funds for donation throughout the year.
Deadline
December 31, 2025 is the last day to make a charitable donation that can be claimed on your 2025 tax return.
Deductions
The majority of Americans take the standard deduction when filing their taxes, which for tax year 2025 is $30,000 for a married couple filing jointly and $15,000 for single or married individuals filing separately.