New Tax Break for SMLA Supporters

A helpful change is coming for taxpayers in 2026, making it even easier to support SMLA’s mission.

Beginning in the 2026 tax year, taxpayers who do not itemize their deductions will be able to claim a new charitable giving deduction (up to $1,000 for individuals/$2,000 for married filing jointly) for qualified charitable cash contributions. Because the standard deduction has increased in recent years, many taxpayers no longer itemize – making this update particularly meaningful.

What This Means for SMLA Supporters

Membership fees and cash donations to the Smith Mountain Lake Association qualify as tax-deductible charitable contributions under this new rule. That means your support for SMLA’s work can now offer an additional financial benefit at tax time. If you can’t locate your emailed payment receipt, please contact our office for a copy for your records.

For guidance on how this deduction may apply to your personal situation, consider consulting a qualified tax professional.