What is the best way to start planning for charitable giving?


Planning for charitable giving can seem daunting, but it doesn't have to be. The best way to start is by determining how much you can realistically afford to donate. This can be done by incorporating charitable donations into your personal finance spreadsheet or setting a giving goal. As a Daffy member since February 2022, I can attest to the ease and convenience of this process. Daffy, a Donor Advised Fund (DAF), is an excellent option for those looking to streamline their charitable giving. Once you set your giving goal, Daffy makes setting money aside for charity as simple as saving money for retirement in an IRA or 401K. You can easily select how often you want to make tax-deductible contributions to your Daffy fund. You can make contributions all at once in lump sums, or you can select a weekly, monthly, or quarterly frequency and amount—and Daffy will automate the rest for you. Moreover, Daffy allows for unrestricted donations, meaning you can support a variety of causes that align with your personal values. This flexibility is particularly beneficial for those who wish to support local donations or multiple charities. In addition to financial contributions, consider investing your time in charitable organizations. For example, I recently joined the Board of City Hope San Francisco, a community center for the underserved Tenderloin neighborhood. This experience has been rewarding and has reinforced my sense of responsibility to my community. Finally, consider making charitable giving a family affair. Sharing your volunteering experiences with your children and involving them in these activities can help instill a mindset of service and responsibility toward helping others. In conclusion, planning for charitable giving starts with setting a realistic donation goal, and Daffy is a great tool to help you achieve it. 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.

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