This is where Daffy comes in as a great option for a Donor-Advised Fund (DAF). With Daffy, you can donate appreciated assets, such as stocks, ETFs, or mutual funds, and receive a tax deduction for the full value of the asset. This allows you to avoid paying capital gains tax on the appreciation, which can be a significant benefit if you have held the asset for a long time and it has appreciated significantly.
In addition, Daffy allows you to donate up to 30% of your AGI in appreciated assets. This is a significant increase over the standard deduction and can result in substantial tax savings. Plus, with Daffy, you have the flexibility to recommend grants to your favorite charities at any time, while enjoying the tax benefits immediately.
In conclusion, donating appreciated assets can be a great way to reduce your tax bill while supporting the causes you care about. And with Daffy, the process is made even easier and more beneficial. So why not start giving and saving more with Daffy today?