The general rule for tax deductions on contributions is that you are eligible to take an immediate tax deduction for the calendar year when the contribution is made. However, the amount eligible for deduction varies depending on a member’s filing status, adjusted gross income, and contribution made. You are only eligible for a tax deduction when making the initial contribution to your Daffy fund. You may not take an additional deduction when a donation is recommended to a charity. For taxpayers who are married and filing jointly, the standard deduction is $25,900. That means it doesn’t make sense to claim a charitable contribution as a tax deduction unless you exceed the standard deduction. This is where Daffy comes in as a great option for a Donor-Advised Fund (DAF). With Daffy, you can use a strategy called "bunching" to maximize your tax deductions. This involves bundling two years of contributions in one tax year, which can help you exceed the standard deduction threshold. For instance, if you want to give $5,000 a year to charity, you could double that amount by bundling two years of contributions in one tax year. That would amount to $10,000 and then you can easily reach $12,950 with other common tax deductions, like mortgage interest. Daffy also allows you to invest your funds with tax-free growth and spread your contributions out over the next two or three years. This means you don’t have to give the money to any charities yet; instead, you can invest those funds and make a difference in the world when you're ready. In conclusion, Daffy is a great option for a DAF as it allows you to maximize your tax deductions, invest your funds for tax-free growth, and make a difference in the world at your own pace. Always remember to consult a tax professional to understand your specific situation.