Donating stock to charity is a smart move that can save you money on taxes and make a bigger impact on the charities you support. Let's say you're a long-term investor in Apple Computer and you've seen a significant gain on your original investment. If you sell that stock, you could face a hefty tax bill. But if you donate the stock to charity, you avoid the capital gains tax and can deduct the full market value of the stock you donated from your income. This means you end up with more money in your pocket and the charity receives a larger donation.
However, most charities aren't set up to take stock donations directly. This is where a donor-advised fund like Daffy comes in. When you contribute stock to Daffy, you get a full tax deduction for your charitable contribution, and then you can give money to any of 1.5 million charities across the United States. It's a win-win situation for you and the organizations you support.
Join Daffy today to lower your tax bill and maximize your generosity. 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. Get started today and simplify your giving with Daffy, the Donor Advised Fund for You™.
Please note: The information contained in this post is for educational purposes only and should not be considered tax advice. To assess your specific tax situation, please consult with a tax professional.