4 Ways To Receive A Tax Deduction For Charitable Contributions in 2025 and 2026, #283
Release Date: 12/09/2025
Should You Add a Transfer on Death Beneficiary to Your Assets? #298
Retire With Ryan
On the show this week, I’m talking all about the topic of probate and how adding a Transfer on Death (TOD) or Payable on Death (POD) beneficiary designation to certain assets can help you avoid your estate being tied up in the probate process. You’ll learn which types of accounts allow for TOD or POD beneficiaries, why these designations might be preferable to joint tenancy, and the pros and cons of setting them up. I break down step-ups in cost basis, the impact on estate taxes, and touch on differences across states—plus considerations to make sure your estate plan actually fits your...
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Tax Extension Mistakes to Avoid This Filing Season, #297
Retire With Ryan
In the last episode, I discussed seven mistakes to avoid when filing your 2025 taxes. So in this episode, I'm going to discuss the tax-filing mistakes people can make when filing an extension. Here are the four most common extension errors that could cost you money, including misconceptions about payment deadlines, underestimating taxes, and the importance of understanding state-specific extension rules. You will want to hear this episode if you are interested in... [00:00] Mistakes that people can make if they're filing an extension [01:41] Importance of filing for an extension by...
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7 Tax Mistakes to Avoid When Filing Your 2025 Taxes, Ep#296
Retire With Ryan
Tax season is here, and if you’re just now gathering your documents to file your return—or preparing them for your CPA—this is the time to slow down and make sure you’re not making costly mistakes. In this episode, I walk through seven tax mistakes I frequently see both tax preparers and self-filers make when filing their returns. Some of these errors seem simple on the surface, but they can lead to penalties, missed deductions, delayed refunds, or paying more taxes than necessary. My goal in this episode is to help you avoid these pitfalls so you can file confidently and keep more of...
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What We Still Don’t Know About Trump Accounts, Ep#295
Retire With Ryan
If you watched President Trump’s recent State of the Union address, you probably heard about the new Trump accounts, also known as 530A accounts. In this episode, I break down how these tax-advantaged investment accounts are designed to work, who qualifies, and—just as importantly, what we still don’t know. There’s been a lot of excitement, especially around the $1,000 seed money for eligible children. But before you rush to open one, there are several unanswered questions that deserve your attention. What Are Trump Accounts—and Who Qualifies? Trump accounts were introduced...
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Is It Wise to Gift My Children Money While I’m Alive? Ep#294
Retire With Ryan
If you have children and you’ve been thinking, “Why wait until I’m gone to help them financially?”—this episode is for you. In Episode 294, I walk through the biggest things to consider before making gifts to your kids while you’re still alive, and I break down some of the smartest ways to do it without triggering unnecessary taxes. I’m seeing this trend more and more with my clients, and it makes sense. Financial markets have performed well, real estate has surged, and many retirees are in a stronger position than generations before them. But just because you can gift money...
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Learn the ABCs of Medicare, Ep293
Retire With Ryan
If you’re approaching age 65, Medicare can feel overwhelming fast. Between Parts A, B, C, and D and the timing rules tied to each—it’s easy to make a costly mistake if you don’t understand how the pieces fit together. In this episode, I walk through the Medicare “alphabet,” explaining what each part does, when enrollment matters most, and how your decisions interact with the rest of your retirement plan. We also cover common questions that come up when clients transition from employer-sponsored coverage to Medicare for the first time. Whether retirement is right around the corner...
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6 Changes To Social Security Happening in 2026, #292
Retire With Ryan
The landscape of Social Security is changing yet again. As we enter 2026, six big changes will impact both current and future retirees. I break down everything from the new cost of living adjustment (COLA), increases in the earnings test limit, and updated eligibility requirements, all the way to shifts in the full retirement age and the solvency projections for the Social Security Trust Fund. You’ll also hear practical tips on maximizing your Social Security benefits, how to prepare for what’s ahead, and why it’s more important than ever to have a solid retirement plan in place. ...
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Protecting Your Schwab Accounts From A RAT Attack, #291
Retire With Ryan
Have you ever fallen victim to a RAT attack? No, not the furry kind, a Remote Access Trojan attack. I’m discussing how cybercriminals use social engineering to target victims, and the real-world impact these threats can have on your investment accounts and personal information. I reveal the latest tactics scammers use, and, most importantly, offer practical tips to help you recognize warning signs, safeguard your accounts, and minimize your risk, whether you’re an individual managing your retirement nest egg or a business owner overseeing company assets. You will want to hear...
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Can I Contribute to My 401(k) and a Traditional IRA in the Same Tax Year?, #290
Retire With Ryan
A listener recently wrote in with a common and important retirement planning question: If I’m already maxing out my 401(k), can I also contribute to a traditional IRA in the same year? The short answer is yes—but whether it makes sense, and how much benefit you receive, depends on your income, tax situation, and long-term goals. In this episode, I break down how traditional IRA contributions work alongside employer-sponsored retirement plans, when those contributions are deductible, and what options are available if your income is too high for a deduction. We also explore alternative...
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Top 5 Growth ETFs to Own For 2026 and Beyond, #289
Retire With Ryan
Last week, we covered the best investments to preserve your money, but this week we are shifting gears to focus on growth. For retirees, the goal is to have an income that outpaces inflation, and historically, the best way to achieve that is by having 50% to 70% of your portfolio invested in stock funds. In this episode, I break down five specific Exchange Traded Funds (ETFs) that can help you grow your wealth in 2026. I discuss why I prefer ETFs over mutual funds, specifically focusing on cost, transparency, and liquidity, and provide the exact ticker symbols and expense ratios for the funds...
info_outlineIn the season of giving, we’re discussing making charitable contributions in 2025 and 2026. Americans are known for their generous donations to worthy causes, but understanding the best ways to give and maximize your tax benefits is key.
This episode covers four effective strategies for making charitable contributions, from utilizing Qualified Charitable Distributions (QCDs) from your retirement accounts to cash donations, gifting highly appreciated stock or real estate, and using donor-advised funds. I also break down recent and upcoming tax law changes that impact your ability to itemize and deduct charitable donations, ensuring you avoid common pitfalls and make the most of your generosity.
Whether you’re planning a gift this year or thinking ahead, this episode is packed with actionable tips to help you give back and plan for a successful retirement.
You will want to hear this episode if you are interested in...
- [00:00] Charitable giving and tax benefits.
- [05:01] Managing qualified charitable distributions.
- [08:03] Charitable deductions and rules changing in 2026.
- [13:17] Benefits of donor-advised funds.
- [16:23] Charitable contributions for tax deductions.
Four Smart Strategies for Charitable Giving in 2026
Charitable giving is at the heart of American generosity, with billions donated annually to causes that matter. But did you know your generosity can also be a powerful tool in your tax strategy, especially as rules shift for 2026?
1. Qualified Charitable Distributions (QCDs): Tax Breaks from Your Retirement Account
If you’re 73 or older and taking required minimum distributions (RMDs) from a traditional IRA, a Qualified Charitable Distribution (QCD) can be a game-changer. Instead of taking your full RMD as income (which is taxable), you can direct some, or all, of it straight to a qualified 501(c)(3) charity. This distributed amount is excluded from your taxable income, potentially lowering your tax bill and even your Medicare premiums.
But details matter:
- The money must transfer directly from your IRA to the charity. You can’t touch the funds yourself and then donate.
- The charity must be a registered 501(c)(3).
- When you receive your year-end 1099-R tax form, it won’t indicate how much was a QCD. You (or your accountant) must reduce your taxable income by the QCD amount and annotate “QCD” on your return. Forgetting to do so can result in unnecessary taxes.
By leveraging QCDs, retirees not only support their favorite causes but also make the most of their hard-earned savings.
2. Cash Donations: Navigating Itemizing and New Deduction Thresholds
Traditional cash donations are an easy way to support charities and reduce taxes, but the benefits depend on your ability to itemize deductions. Until recently, many households in high-tax states struggled to itemize due to the $10,000 state and local tax (SALT) deduction cap.
Big change for 2026 - 2029:
- The SALT cap jumps to $40,000, making itemizing possible for more people.
- If your itemized deductions, including mortgage interest, medical expenses, property taxes, and charitable gifts, exceed the standard deduction, your donations can reduce your taxable income.
- In 2026, a $1,000 per individual (or $2,000 per couple) charitable deduction will be available even if you don’t itemize. However, your charitable giving must exceed 1.5% of your adjusted gross income to become deductible, creating a new bar to qualify.
Careful timing and documentation of donations can help maximize these new opportunities.
3. Donating Appreciated Assets: Stocks and Real Estate
If you’re sitting on highly appreciated stocks or real estate, donating them directly to charity can deliver a double tax benefit:
You avoid paying capital gains tax on the asset’s increase in value, and you can also deduct the current market value of your donation (subject to certain AGI limits: 30% for appreciated assets).
To qualify:
- The asset must have been held for at least one year.
- For real estate valued above $5,000, an independent appraisal is required.
- Charities get the full value, and you skip the capital gains tax bill.
If your donation exceeds the allowed AGI percent, you can carry the excess deduction forward up to five years.
4. Donor Advised Funds: Flexible Giving, Immediate Deductions
A Donor Advised Fund (DAF) is a charitable investment account. You can donate cash, stocks, or other assets now and get an immediate tax deduction, but distribute the funds to your chosen charities later, at your own pace.
Why use a DAF?
- It allows for strategic, larger contributions (helpful in years with unusually high income).
- You enjoy flexibility in choosing and timing your ultimate beneficiaries.
- Major brokerages like Fidelity, Schwab, and Vanguard offer DAFs, with differing minimum contributions and low-cost investment options.
Keep in mind that there are administrative fees (roughly 0.60% on the first $500,000), but DAFs are simpler and less costly than setting up a private foundation.
Smart Giving Starts with Smart Planning
As 2026 approaches, take time to review your charitable and tax strategy. Whether using QCDs, cash gifts, appreciated assets, or a donor-advised fund, the tax code changes mean new opportunities, and some fresh requirements. Consult a financial advisor to fit these options to your personal circumstances and maximize the impact of your generosity for both your favorite causes and your family’s financial wellbeing.
Resources Mentioned
- Retirement Readiness Review
- Subscribe to the Retire with Ryan YouTube Channel
- Download my entire book for FREE
- Fidelity
- Schwab
- Vanguard
Connect With Morrissey Wealth Management
www.MorrisseyWealthManagement.com/contact