There are some new changes to federal tax rules this year that could impact how you choose to give to Hope Ministries or other great causes. Below is a quick overview of what’s changed in 2026—and how you can continue to support Hope Ministries while being tax‑wise.
What’s new in 2026?
- Higher standard deductions
- New charitable deduction for those who choose not to itemize
- New limits for those who do choose to itemize
- Qualified Charitable Distributions from IRAs are more generous for donors age 70½ and older
The biggest change that may impact you:
The standard deduction increased again in 2026—$16,100 for single taxpayers and $32,200 for married couples who file jointly.
But on top of that, in 2026, taxpayers who take the standard deduction may additionally deduct cash gifts to public charities (like Hope Ministries):
- Up to $1,000 for individuals
- Up to $2,000 for married couples filing jointly
This is good news because it means even smaller donations can benefit you while also helping us change lives at Hope Ministries!
Important notes:
- This applies to cash gifts only
- It does not apply to donor‑advised funds or private foundations
- It can’t be carried forward to future years
If you’re 65 or older:
In addition, if you’re 65 or older, not only may you claim a higher standard deduction, you can claim an additional deduction through the 2028 tax year—up to $6,000 for single filers or $12,000 for married filers who qualify. (You’ll want to check with your tax professional on this deduction, though, because it phases out for those with higher incomes.)
Let’s talk IRAs:
Qualified Charitable Distributions (QCDs) remain one of the most tax‑efficient ways to give in 2026.
- Donate up to $111,000 per person per year directly from your IRA
- QCDs count toward your required minimum distribution (RMD)
- Gifts are excluded from taxable income (even if you don’t itemize)
This can be a powerful way to support Hope Ministries while managing taxable income.
And for those who do choose to itemize:
For taxpayers who choose to itemize, here are some key pieces of the 2026 tax laws to consider:
- Limit on deductions for cash gifts: You can still deduct cash gifts of up to 60% of your adjusted gross income (AGI). To maximize tax benefits, you could consider combining your cash and non-cash assets.
- New AGI floor: You may only deduct the portion of your charitable giving that exceeds 0.5% of your adjusted gross income (AGI). Example: If your AGI is $100,000, only gifts above $500 are deductible.
- New Cap for High‑Income Donors: For taxpayers in the highest tax bracket, the maximum tax benefit of charitable deductions is capped at 35% (down from 37%).
Your Giving Matters—More Than Ever
Tax laws may change, but the need in our community does not. Your generosity helps Hope Ministries provide shelter, meals, recovery programs, and hope to neighbors across Central Iowa.
If you have questions about giving options or would like to talk about planned or legacy giving, we’d be honored to connect.
Contact us at (515) 265-7272 or info@hopeiowa.org.