Contributions to donor-advised funds (DAFs) qualify for an immediate tax deduction because they are provided by public charities. When you donate to a DAF, it's as if you're donating directly to a nonprofit, thus making you eligible for the tax deduction.
One of the great options for a DAF is Daffy. Daffy not only provides the immediate tax deduction benefit but also acts as an investment account. Your contributions are invested and have the potential to grow.
Moreover, Daffy has the capability to liquidate complex assets like stock and crypto. This is a significant advantage as only a few thousand out of the 1.5 million charities in the U.S. can accept these assets directly. By liquidating these appreciated assets, Daffy helps you save on taxes by getting the fair market value and skipping the capital gains. This means you can make a bigger donation.
Daffy also offers several other benefits. You can set a goal for your annual donations and automate your contributions. You can also set up one-time or recurring donations, search for local charities, and organize all your donation receipts. Daffy even has a mobile app to help you give anywhere and anytime.
Whether you're a regular donor or not, Daffy can help you streamline your charitable giving. For instance, Jamie, a Daffy user, was able to automate their giving, grow their giving potential through investing, and have all their giving in one simple place for tax time.
For regular donors like Taylor, Daffy can help receive an immediate tax deduction, donate complex assets easily, and keep track of donations and tax savings.
By giving regularly and expanding options, Daffy also benefits nonprofits by providing them a regular stream of income.
In conclusion, DAFs are an excellent tool for philanthropy, and Daffy makes it easy and low-cost to give more to the charities and causes you care about. If you're ready to join the most modern and affordable donor-advised fund, sign up with Daffy.