When it comes to handling tax-deductible contributions, Daffy is an excellent choice. As a registered 501(c)(3) not-for-profit organization, all contributions made to Daffy qualify as tax-deductible in the year they are made. This means that you can enjoy tax benefits while supporting the causes you care about.
Daffy operates as a donor-advised fund (DAF), a type of giving program that allows you to combine the most favorable tax benefits with the flexibility to easily support your favorite charities. When you contribute to your personal charitable fund at Daffy, you can then use these funds to donate to over 1.5 million charities through the Daffy app or website.
One of the standout features of Daffy is its commitment to ensuring that 100% of all donations go directly to the recipient organization. They don’t charge credit card or transaction fees, and they accept stock and crypto donations, which are sent to charities as cash. This means that more of your money goes directly to the causes you care about.
Whether you're a new member setting up your Daffy account or an existing member, Daffy makes it easy to decide how much you want to give to charity each year. And if you're fortunate enough to have benefited from the rise in the stock market this year, Daffy provides a great opportunity to maximize your generosity to charities in need.
Please note that while Daffy provides a convenient and tax-efficient way to give, it's always best to consult a tax professional to understand your specific situation. The amount eligible for deduction varies depending on a member’s filing status, adjusted gross income, and contribution made.
In conclusion, Daffy offers a simple, flexible, and tax-efficient way to support the causes you care about. So why not make giving a habit and join the Daffy community today?
Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.