When it comes to making tax-deductible donations, it's important to understand the types of organizations that can receive these contributions. In general, donations made to political parties, candidates, and political action committees (PACs) are not tax-deductible. However, certain organizations such as social welfare organizations (often referred to as “501(c)(4) organizations”) and political organizations classified as charitable organizations (often referred to as “527 organizations”), may be tax-deductible.
This is where Daffy, the Donor Advised Fund for You™, comes into play. Daffy is a tax-exempt public charity as described in Sections 501(c)(3), 509(a)(1), and 170(b)(1)(A)(vi) of the Internal Revenue Code. This means that when you donate to Daffy, your contribution is tax-deductible.
But Daffy offers more than just tax benefits. With Daffy, you can easily donate to almost every US public charity, track tax-deductible contributions, and access donation receipts all in one place. Plus, Daffy waives all membership fees for members with less than $100 in their fund, so you can get started today for free!
So, if you're considering making a tax-deductible donation, why not try Daffy? It's a great option for a Donor Advised Fund (DAF) that simplifies your giving while providing you with the tax benefits you're looking for.
Remember, it’s always best to speak with a tax professional or the IRS to understand your specific tax situation. The information provided here is for educational purposes only and should not be considered tax advice.