New tax law makes 2025 a strategic year for giving

Highlighting key provisions for itemizers, non-itemizers and corporations.

At nearly 900 pages, US legislation known as the One Big Beautiful Bill Act introduced numerous tax law provisions. With so much to decipher, it would be understandable if you skipped over the changes related to charitable giving since they don’t go into effect until 2026.

The coming changes, however, have strategic implications for 2025.

Notably, you may want to maximize the deduction benefits of current tax law ahead of new floors and caps that will be introduced for itemizers in 2026. Non-itemizers may want to do the same, if possible, though for some it could be more strategic to let the calendar flip.

Considerations:

• Accelerating plans for giving to 2025
• Bunching multiple years of giving into a single year
• Using a donor advised fund for increased flexibility
• Deferring qualified cash donations to 2026 (for non-itemizers)

Key provisions for itemizers

Beginning in 2026, itemized charitable deductions will apply only to contributions that exceed 0.5% of your adjusted gross income (AGI). For example, if your AGI is $350,000, only donations above $1,750 will be deductible. For high earners, charitable deductions will be capped at 35% of the donation amount, down from the current top marginal rate of 37%.
The tax law that remains in effect for 2025 has no AGI-related floor and maintains the slightly higher allowance for the 37% marginal tax rate.
This is where itemizers may want to consider accelerating their planned giving in 2025 or utilizing a donor advised fund (DAF), which is a charitable investment account that allows for a same-year tax deduction for contributions of cash, stocks or other assets while allowing you to recommend grants to charities over time. Once funds are in a DAF, they cannot be withdrawn for other purposes, but for those committed to giving, a DAF offers strategic flexibility.
A DAF accommodates what is referred to as a bunching strategy, which combines the donations of two or more years into a single year. The tax benefit comes in the year the lump sum contribution is made into the DAF. And with the flexibility of a DAF, gifts or donations can be made to eligible charities into the future on a cadence of your choosing.
Also, assets in a DAF can be invested, potentially increasing the value and, therefore, power of your original contribution.

Key provisions for non-itemizers

The new law will reintroduce and increase an above-the-line deduction for qualified charitable contributions, making a deduction available to taxpayers who do not itemize. Starting in 2026, individuals can deduct up to $1,000, and joint filers can deduct $2,000. Once it takes effect, this provision does not expire.
Donations made in 2025, however, remain subject to existing tax law and cannot be deducted by non-itemizers.
It’s worth noting that even once the new deduction goes into effect, gifts to DAFs and private foundations will not be eligible for deductions by non-itemizers. So, for a non- itemizer who plans to open or contribute to a DAF or a private non-operating foundation in 2026 and beyond, it could be strategic to accelerate your giving to 2025 if the total of your eligible deductions would enable you to itemize on your 2025 tax return.
If your total deductions remain below the itemizing threshold for 2025, and you are not contributing to a DAF or private foundation, a donation made on December 31, 2025, would not be deductible. A donation made on January 1, 2026, would potentially qualify for the above-the-line deduction.

Key provisions for corporations

Starting in 2026, corporate entities will be able to deduct only charitable contributions that exceed 1% of taxable income, though an overall cap of 10% remains.
Similar to the new provisions for individuals who itemize, businesses that give back to their communities through donations or would like to implement a planned giving strategy may want to accelerate their giving to 2025 or consider using a DAF to maximize tax efficiency and giving power.
For example, if a company typically donates 3% of its taxable income each year, the first 1% of that donation will no longer be deductible starting in 2026. Bunching two or even three years’ worth of donations into a single year would allow the business to deduct all but 1% of the total donation.

A single-year donation just below the 10% cap could prove to be most tax efficient in the long term. Making grants from the DAF to a company’s chosen causes can be done into the future, either on a planned cadence or as need arises.

What about donations from IRAs?

The new law does not alter the rules for qualified charitable distributions from IRAs. In 2025, if you are 70 1/2 or older, you can donate up to $108,000 annually directly from your IRA to a qualified charity without it counting as taxable income.
With so much to consider, a team of experienced professionals can help you maximize your gifting power and your tax efficiency in 2025 and beyond.

Changes in tax laws or regulations may occur at any time and could substantially impact your situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors we are not qualified to render advice on tax or legal matters. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

Donors are urged to consult their attorneys, accountants or tax advisors with respect to questions relating to the deductibility of various types of contributions to a Donor-Advised Fund for federal and state tax purposes.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

Chicken Cacciatore

1.5 kg (3.5 lbs) whole chicken with skin (you can also buy chicken pieces, bone in, skin on)
250 gr (8.8 oz) pitted green olives
2 medium-sized red onions
180 gr (6.3 oz) salted capers
½ cup of table white wine
3 rosemary sprigs
EVOO
Mediterranean Sea Salt
Ground black pepper

Finely chopped onions, capers and olives.

Directions

If using a whole chicken, cut into thighs, legs and breasts.

Heat a large sauté pan. Brown the chicken, and as soon as a golden patina is reached on both sides, add EVOO, finely chopped onions, capers, olives and rosemary sprigs. Stir it. Pour in the white wine and let it blend into the sauce. Once the alcoholic part has been reduced, season with salt and ground black pepper, stir and then cook over medium heat for about 15 minutes.

source: https://www.lacucinasabina.com/recipe/chicken-cacciatore/

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

From the Desk of Dale Crossley and Evan Shear | Q3 2025

We hope this latest edition of The Journey finds you thriving. While the markets continue to fluctuate this year, we remain confident in our collective ability to weather the storm and sail smoothly to the other side. In our twenty-five years of guiding clients with sound financial planning, we’ve seen that periods like this always come and go. What makes the difference is your ability to learn from the past, stay grounded in the present, and keep an eye on what’s ahead.

In that spirit, this quarter’s edition of The Journey will start by looking back before setting our sights on what’s next here at CrossleyShear.

Looking Back: 3-Day Royal Caribbean Utopia of the Seas Cruise Recap

We recently set sail on an incredible 3-day Royal Caribbean cruise, joined by a fantastic group of CrossleyShear employees and valued clients. It was the perfect blend of connection, relaxation, and fun.

Day 1 kicked off with a warm welcome aboard and a group dinner at Chops Grille. The evening was filled with great food, laughter, and meaningful conversations that set the tone for the rest of the trip.

Day 2 brought us to the beautiful Bahamas, where everyone enjoyed the freedom to explore at their own pace, whether lounging on the beach, adventuring onshore, or simply soaking in the island vibes. Evenings on board were nothing short of fantastic. From live performances to music and games, there was something for everyone.

Day 3 was a highlight as we spent the day on Royal Caribbean’s private island, enjoying private cabanas that offered a luxurious, relaxing escape. It was the perfect way to wrap up a memorable getaway.

To the wonderful clients who joined us—thank you. Your presence made this experience truly special. We’re grateful for the opportunity to spend time together, and we look forward to many more shared moments ahead through sound financial planning.

Looking Ahead: Upcoming Speaker Series with Marc Milstein

You won’t want to miss the second installment of our ongoing Speaker Series. In July, our first featured guest, author and CNBC contributor Joseph M. Terranova, shared valuable insights that challenged and inspired us—and we expect nothing less this time around.

Join us on Tuesday, November 18, 2025, at 4:00 PM, for an engaging webinar with brain health researcher Dr. Marc Milstein, author of The Age-Proof Brain: New Strategies to Improve Memory, Protect Immunity, & Fight Off Dementia.

Dr. Milstein is known for translating cutting-edge research into actionable strategies. His focus areas include:
• Age-proofing your brain
• Achieving game-changing sleep
• Managing stress and anxiety
• Boosting overall happiness
• Avoiding burnout

We look forward to learning practical, science-backed tips for improving brain health, so we can maximize productivity, energy, and longevity in the days and years ahead.

Moving Forward With CrossleyShear
Whatever the future holds, sound financial planning remains the best foundation for staying steady and making confident decisions. That’s what drives us at CrossleyShear. Whether you need to make adjustments or simply confirm you’re still on track, we’re here for you.

Don’t hesitate to reach out. We’re ready to come alongside you and support you on your journey.

Evan & Dale

Any opinions are those of CrossleyShear Wealth Management and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. All opinions are as of this date and are subject to change without notice. Past performance is not a guarantee of future results.

Shrimp Poke Bowl

Prep Time: 20 mins
Cook Time: 20 mins
Total Time: 40 mins

Shrimp Poke Bowl is an easy way to get your sushi fix at home, a healthy and delicious meal, that is also very versatile.
Calories: 530 kcal

Ingredients

For the shrimp:

1 lb. shrimp peeled, deveined, and tail removed
1/4 cup mayo
1 tablespoon Sriracha sauce
1 tablespoon green scallions diced

Sushi Rice:

1 cup sushi rice dry
2 tablespoons rice vinegar
2 teaspoons sugar
1 teaspoon salt

Cucumber salad:

1 cup cucumber diced
1/2 cup edamame
1/2 avocado diced
1 tablespoon soy Sauce
1 teaspoon rice vinegar
2 teaspoons sesame oil
1 teaspoon sesame seeds

For Serving:

Microgreens
Dried seaweed
1 mango diced

Instructions

First, rinse the rice in a rice colander until water runs clear. Cook according to package directions on the stove or in a rice cooker.
In a small bowl combine the rice vinegar, sugar, and salt until dissolved and set aside.
When the rice is done cooking, gently stir in the vinegar mixture, careful not to mash the rice.

Shrimp:

Bring a large pot with salted water to a boil, add the shrimp and cook 2-3 minutes until pink. Discard the water and place the shrimp in an ice bath, to stop cooking process. Remove the tails, if they have them, and chop the shrimp into chunks.
Next, transfer the chopped shrimp into a bowl and mix in the mayo, sriracha, and scallion. Cover with plastic wrap and set aside in the fridge until ready to use.

Salad:

In another bowl mix the salad ingredients. Cover with plastic wrap and set aside in the fridge until ready to use.

Serve:

Add warm rice to two bowls, top with shrimp, the cucumber salad, microgreens, and diced mango. Serve by wrapping bites in seaweed paper.

source: https://30minutesmeals.com/wprm_print/shrimp-poke-bowl

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

Four ways to teach your kids about business

Set them up for professional – and personal – success.

Whether your children will grow up to be entrepreneurs or to work for someone else, teaching kids early about business helps them establish valuable skills that can serve them in both their professional and personal lives.

Among other things, learning about business can teach kids problem-solving, time management and the importance of planning. It can also help them understand the value of money and hard work, perseverance and risk-taking.

Here are four ways to help set up your child for success – both in the workplace and in life.

1. Teach them financial literacy.
The sooner you educate your kids about money, the sooner they’ll understand the importance of managing and investing their earnings. Talk to them about income and expenses, budgeting and taxes, and show them how you handle your household finances, pointing out the difference between “wants” and “needs.” Let them experience the consequences of their choices – for example, that buying a new video game today means it will take them longer to save up for a skateboard.

2. Let them learn from their mistakes.
It can be tempting to step in to help your children solve their problems, but eventually they’ll need to be able to manage on their own. Allow them to make mistakes while they’re still in the safety of your home and the stakes are low. Help them explore the factors that contributed to the problem – this builds confidence and resiliency and teaches them not to give up when things become difficult.

3. Take them to work with you.
During summer or spring break, bring your child to work with you to experience a normal day at your business. Talk about the jobs they see being done and how these fit into the broader business picture. Let them shadow you and your employees as you explain what you do each day and why. You could even give them tasks to complete – like filing, shredding or making copies – if you feel they’re ready.

4. Have them run their own business.
Experience is the best teacher, so let your children be CEO of their own business, whether it’s a short-term project or a years-long endeavor. Help them identify their marketable skills and create a business plan, determining how much they’ll need to spend and what they can charge for their products or services. Whether it’s mowing lawns, walking dogs, babysitting, or selling lemonade, running their own business helps kids learn the importance of punctuality and professionalism, as well as marketing and customer service.

Nurturing these skills in your kids today can help them become successful adults tomorrow.

Sources: Gohenry.com, Rampton, John. How to Teach Your Kids Entrepreneurship Early in Life, LinkedIn, Nationwide.com

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.