Many people wonder why most charities in the United States do not accept stock donations. The simple answer is that most charities aren't set up to take stock donations directly. Out of the over 1.5 million not-for-profit organizations across the United States, only a few thousand are equipped to handle stock donations.
However, donating stock can be a highly beneficial way to support your favorite charities. Not only can it help you give 20% more to these organizations, but it can also save you a significant amount in taxes. For example, if you were to donate $15,000 worth of Apple stock, you could potentially deduct up to $5,000 off your annual taxes. This means you end up with more money in your pocket, and the charity receives a larger donation.
This is where a donor-advised fund (DAF) like Daffy comes into play. 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 all across the United States. It's a win-win situation for you and the organizations you support.
So, if you're looking to lower your tax bill and maximize your generosity, Daffy is the perfect solution. It's the donor-advised fund for you. With Daffy, you can easily donate to almost every US public charity, track tax-deductible contributions, and access donation receipts all in one place.
Please note that the information contained in this blog 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.
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.