The Big Beautiful Breakdown: Charitable Giving Gets Complicated

In this emergency headline episode of Traction with the Tiger, host and Tax Tiger Chris Wittich breaks down the surprising new rules around charitable deductions under the One Big Beautiful Bill. There’s a new above-the-line deduction of up to $1,000 (or $2,000 for joint filers) for cash donations, even if you don’t itemize. But for those who do itemize, a 0.5% AGI floor has been introduced, meaning the first portion of your donations may not be deductible at all. Chris walks through what these changes mean in practice and who is most affected. Whether you give a little or a lot, this episode helps you plan your giving strategy under the new rules.