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Do your charitable gifts reflect what matters most to your family? A little planning can help. Learn ways to name the causes you care about, make room for giving in the family budget, bring children and grandchildren into it, and keep the records the IRS asks for, from bank records to receipts.
How a little planning can help your gifts reflect what matters most to your family
When a letter comes from a school, a hospital foundation calls, or a neighbor holds a fundraiser, saying yes usually feels right, and many families give this way, one request at a time. A simple plan keeps that generosity and helps a whole year of giving reflect your family’s values while fitting with your other financial goals.
Before deciding where to give, it can help to name the causes that mean the most to your family. That might be your place of worship, the college that shaped a career, the hospital that cared for a parent, or a group that serves your own town. A short list makes it easier to say yes with confidence, and to say no kindly to requests that don’t fit.
For a tax deduction, the organization’s status matters. The IRS says most organizations can tell you whether they qualify to receive deductible gifts, and it offers an online search tool to check. The IRS also says a gift made directly to a person is not deductible, even when it is well meant. A gift to a qualified organization that helps people in need may be deductible, as long as you don’t direct it to a particular person.
Giving tends to feel easier when it has its own place in the family budget, next to saving for retirement, helping children or grandchildren, and covering everyday costs. Some families set a dollar amount for the year. Others set aside a share of their income. Deciding ahead of time can help you give generously without crowding out the goals already in your plan.
Some gifts meet a need today. Others support a cause for years, such as a scholarship, a building fund or a yearly pledge. You may want some of each. Thinking about timing can also raise practical questions, such as how your giving fits with your income once you retire. Because the tax side depends on your own situation, it may be worth talking over with a tax professional.
Giving can be a way to pass values from one generation to the next. Some families hold a yearly conversation about which causes to support. Others let children or grandchildren choose one gift on their own and explain why it matters to them. It can open a natural door to talking about money and legacy, subjects that can be hard to raise any other way.
Records matter if you plan to claim a deduction. The IRS counts a check, a card payment or an electronic transfer as a cash gift, and it says a cash gift of any amount can’t be deducted unless you keep a bank record or a written record from the charity. Larger gifts generally call for a written acknowledgment from the organization, and many people keep these letters with their tax records for the year.
The rules on who can deduct have changed, too. According to the IRS, starting in 2026, people who don’t itemize may be able to deduct some cash gifts to charity, though not every gift qualifies.
What you receive in return matters as well. If a gift comes with something back, such as a dinner at a fundraising event, you can generally deduct only the part of your gift that is more than the value of what you received.
A giving plan tends to work best when it fits the rest of your financial picture, from your retirement income to the legacy you hope to leave. Strong Valley’s advisors welcome the chance to discuss how your giving fits within your broader financial plan.
Tax rules and amounts can change, and every family’s situation is different. Before you claim a deduction or make a large gift, consult a qualified tax or legal professional.
This article is for educational purposes only and is not intended as tax, legal, or investment advice.
