When it comes to maximizing your tax deductions through charitable giving, Daffy is an excellent option for a Donor-Advised Fund (DAF). With Daffy, you can make a tax-deductible contribution and let it grow in an investment account until you're ready to donate to your chosen charities. This approach not only simplifies tracking your deductions but also allows your contribution to make a bigger impact. For instance, consider Leah, a senior manager at a tech company. She earns $200,000 a year and received a $20,000 bonus. If she contributes to a DAF like Daffy, she can deduct up to 60% of her adjusted gross income (AGI) through charitable deductions for the 2023 tax year. This means she can potentially deduct a substantial portion of her income, lowering her taxable income and thus her tax liability. Moreover, Daffy allows you to donate more than just cash. You can also donate appreciated assets like stocks, ETFs, mutual funds, and even cryptocurrency. This way, you can avoid paying capital gains tax on the appreciation and still receive a tax deduction for the full value of the asset. The limit for deducting charitable donations of appreciated assets is 30% of your AGI. Charitable deductions are one of the most generous income tax deduction strategies. You can deduct up to 30-60% of AGI through charitable donations. And if you want to yield even higher tax savings, consider donating appreciated assets instead of cash. This way, you'll avoid paying capital gains taxes on the asset, and the full amount goes to the organization you care about. In conclusion, Daffy offers a flexible, tax-efficient way to give back. It allows you to donate cash or appreciated assets, grow your contribution in an investment account, and make a bigger impact when you're ready to support your favorite charities. Start giving and saving more with Daffy today.