In this episode, I delve into the benefits and mechanics of donor advised funds (DAFs) and their role as a savvy tax strategy for charitable giving. If you're a high-income earner who's both charitably inclined and invested in the stock market, this is for you. I'll break down how DAFs function, highlighting their tax advantages, especially in light of the 2017 tax changes, and identifying who stands to gain the most from utilizing them.

Drawing from real-life scenarios, I'll show you how DAFs can yield substantial tax savings. By allowing individuals to donate appreciated securities or cash, claim immediate tax deductions, and then disperse these funds to charities over time, DAFs offer a strategic approach to giving back.

Throughout the episode, I'll differentiate between those best suited for DAFs and those who might not reap as many benefits. I stress the importance of having a charitable mindset, discuss the potential tax ramifications of appreciated securities, and consider how the standard deduction impacts charitable contributions.

My goal is to provide listeners with actionable insights to support their favorite causes while optimizing their financial plans. So, if you're eager to make a difference while making the most of your resources, tune in for some valuable guidance.

Key Takeaways & Timestamps:

• (00:00) Introduction

• (00:54) The Tax Mechanics of Donor Advised Funds

• (04:01) Who Should Consider Donor Advised Funds?

• (05:56) Who Might Not Benefit from Donor Advised Funds?

• (07:36) Illustrating the Impact of Donor Advised Funds With an Example

• (10:59) A Recap of What Criteria to Consider about Donor Advised Funds

• (11:48) Download the Ultimate Military Finance Checklist

  
  

  www.baskinfp.com/post/37-donor-advised-funds-one-of-the-most-powerful-tax-planning-tools

  
  

More of Baskin Financial Planning:

Download the Ultimate Military Finance Checklist⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, with 7 pages of critical things to be thinking about to clarify your journey to financial freedom.

Think you might need some financial help? ⁠⁠⁠⁠⁠Book an intro call with me to see if we would be a mutual fit.

Questions or comments, drop me a note at: erik@baskinfp.com