Daffy

What are the tax benefits of donating stock through Daffy?

Stock

Donating stock through Daffy, a leading donor-advised fund provider, offers significant tax benefits. When you donate appreciated stock instead of cash, more money goes to charity. This is because Daffy allows you to contribute nearly any publicly traded stock to your Daffy fund, which is then sold and donated to any charity of your choice. This method not only allows for a tax deduction but also gives you more time to decide on which organizations to support. The process is simple and straightforward. You log into your Daffy account, select stock as a contribution option, and initiate a transfer from your brokerage. The stock is then liquidated and added to your fund balance, usually within 7-10 days. One of the key benefits of this approach is that you can take an immediate tax deduction. Additionally, you don't have to feel pressured to donate your money all at once. You can take your time to decide how to distribute the money once you're inspired to give. At the end of the year, you'll receive a single yearly tax receipt, simplifying your tax filing process. Moreover, if you're unsure about which organizations to support, you can invest the cash in one of Daffy's portfolios to grow tax-free for future donations. In summary, Daffy makes it easy to donate stock, offering you a way to lower your tax bill and maximize your generosity. It's a win-win situation for both you and the charities you support. Please note that this information is for educational purposes only and should not be considered tax advice. Always consult with a tax professional to assess your specific tax situation.

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.

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