As the end of the year approaches, a new federal tax deduction gives more Americans a reason to consider charitable giving as part of their financial planning.

Beginning with tax year 2026, eligible taxpayers who take the standard deduction may deduct up to $1,000 in qualifying cash contributions to eligible charitable organizations. Married couples filing jointly may deduct up to $2,000. Previously, taxpayers generally needed to itemize to deduct charitable contributions.

For those considering a year-end gift, the change offers an opportunity to revisit their giving plans and the causes they want to support.

At Polk State College, philanthropy connects that decision to opportunities for students and the community. Through the Polk State College Foundation, donors support scholarships, academic programs, and learning opportunities that help students prepare for their futures.

That support also strengthens the region’s workforce. Investing in education helps prepare the healthcare professionals, business leaders, technicians, and other skilled workers who serve Polk County.

Year-end giving begins with a personal question: What would you like your gift to accomplish?

For some donors, the answer is helping a student afford college. For others, it is supporting a particular program or expanding access to education in their community. The Foundation can help donors explore opportunities that connect their interests with student and College needs.

A one-time gift or a recurring commitment can become part of that support. Donors can choose an approach that fits their priorities and financial circumstances.

The new deduction applies to qualifying cash contributions. Noncash gifts, such as stock or property, do not qualify for this particular deduction. Contributions to donor-advised funds and certain other organizations are also excluded. A deduction reduces taxable income; it is not a dollar-for-dollar tax credit.

Donors should consult their tax advisors about how these rules apply to their circumstances. Starting now allows time to discuss giving options, arrange a contribution, and retain the documentation needed for tax filing. 

To explore ways to support Polk State students, contact the Polk State College Foundation or visit foundation.polk.edu. Gifts can be made through the Foundation’s online giving page.