Give Now

Tax Law Highlights: The One Big Beautiful Bill Act 2025

Related Tax Information for 2025 That Could Impact You

Since July 4 when the new tax law was signed, Americans have been wondering if it is going to have an impact on them. And if so, how?

For many households, the changes, refinements to previous legislation, and extensions of others (i.e., the 2017 Tax Cut and Jobs Act)1 have limited implications. Yes, the “One Big Beautiful Bill Act” (OBBBA)1 locked in some provisions and/or set inflation adjustments for others. Your planner should be able to make sense of it and direct you on how best to move forward in those areas that apply to you.

From the increase in the standard reduction (for non-itemizers), to the new child tax credit, to the mortgage interest deduction limit of $750,000, the OBBBA impacts many of us.2 Your planner can help set the clock for your year-end decisions, including charitable ones. Some provisions may apply to you in 2025, while others in 2026. So knowing these dates is key.

One tax-wise strategy that could be beneficial in 2025 is the “bunching strategy,” where one seeks to capture the charitable deduction benefits every few years in a single year.3 It could be advantageous for some; ask your advisor if it’s an option for you.

What all of us need to do now is decide and then execute our decisions for 2025. And this is one of the focuses of this email, the what and when for year-end charitable gift planning.

Additional Resources:

  1. A good premier of the OBBBA from a charitable view can be seen on an August 21 post from the National Christian Foundation; check here to read:  https://www.ncfgiving.com/stories/obbba-why-give-2025/
  2. Another source to consider is an August 18 post by Joseph Stife with Sound Mind Investing. His information can be found here: https://soundmindinvesting.com/articles/what-the-new-tax-law-means-for-charitable-giving
  3. To learn more about “bunching” and see a case example, go to: https://www.ncfgiving.com/stories/maximizing-your-giving-with-a-bunching-strategy/

Your charitable donations are tax-deductible. The ministry’s tax identification number is 95-6006173. Jesus Film Project® is a ministry of Campus Crusade for Christ International®. The ministry operates under the brand name Cru® in the United States.

Jesus Film®