If a donation recommendation is not approved by Daffy, it's usually because it doesn't align with the guidelines set by the IRS for donor-advised funds. For instance, Daffy members cannot recommend donations to satisfy pre-existing pledges or obligations for their private benefit. This includes tuition payments, tickets to a gala, or membership benefits to other organizations.
However, this doesn't limit the potential of your Daffy fund. With Daffy, you can support any of the over 1.5 million charities in the US. Daffy delivers all donations to charities in cash, providing you with the flexibility to choose the organizations that align with your values and interests.
Daffy is more than just a donor-advised fund; it's a community of members committed to setting money aside for those less fortunate. It's a platform that encourages generosity and makes the process of giving easier and more efficient.
Remember, the more donations you make, the more chances you'll have to make a difference. So, if you're one of the fortunate investors who have benefitted from the rise in the stock market, consider giving a little this year to charities in need through Daffy.
Please note that the information contained in this post is for educational purposes only and should not be considered tax advice. Always consult with a tax professional to assess your specific tax situation.
Join the Daffy community today and make giving a habit.
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.