Tax Strategies
Tips to help you save on taxes & give more to causes care about.
Tax Strategies
Your 2022 Charitable Tax Deductions Guide
Get ahead on your tax strategy for the coming year by mapping out your charitable contributions in 2022.
Tax Strategies
How Donating Stock to Charity is a Win-Win For You & Charities
Giving stock instead of cash as a charitable donation can greatly benefit you as well as the non-profit.
Tax Strategies
How to Maximize Your Tax Savings by Bunching Charitable Donations
Not sure if you should itemize this year? Check out this charitable deduction strategy to help.
Giving, Tax Strategies
Donor-Advised Funds vs. Private Foundations: What’s Best For You
While both options offer the potential for tax savings, there are several major differences between the two. You’ll maximize your impact and save yourself tons of time.
Tax Strategies
6 Smart Ideas for What to Do with Your 2021 Tax Refund
Further your financial goals by putting your tax refund to work.
Tax Strategies
5 Tips to Lower Your Tax Bill
An unexpected tax bill is a nightmare that happens all too often. 😱 If you had to pay a significant tax bill after you filed your tax return this year, you’re not alone, and here are five ways to avoid this for your 2022 tax bill. #1: Analyze Your 2021 Tax Return & Adjust Your W-4 In many cases, saving a little bit of money out of each paycheck is a great way to reach a financial goal. As it turns out, taxes work the same way. Your withholdings offer the key to avoiding a nasty surprise on A
DAFs Explained, Tax Strategies
What Elon Musk Can Teach Us About Donor-Advised Fund Fees
Most people have never even heard of a donor-advised fund, [https://daffy.org/resources/why-have-i-never-heard-of-a-donor-advised-fund] often called a “DAF”. But a few weeks ago, millions of people found out about them when Bloomberg [https://www.bloomberg.com/news/articles/2022-02-15/elon-musk-donated-5-7-billion-of-tesla-shares-to-charity] reported that Elon Musk has donated $5.7B in Tesla stock ($TSLA) to charity, most likely to a donor-advised fund. Unfortunately, there is a fundamental p
What's New on Daffy, Tax Strategies
Introducing the Tax Summary Report
Earlier this week, we rolled out the ability for our members to view and download a simple summary of all of their contributions that may qualify as tax-deductible for 2021. Everyone has a system for finding their charitable donation receipts. Whether it’s a special folder on your desk, a special tag in Gmail, or just the hail mary search of your inbox. Since tax season often means tracking down a lot of receipts and documents, we wanted to help save our members the time and hassle. If you’re
Tax Strategies
Got a Big Bonus? How to Pay Less Taxes & Give Back
Bonus season is upon us, and while you might initially cheer at the thought of extra cash in your bank account, it’s important to realize the tax implications before you start spending. Getting taxed at the supplemental income rate could leave you with a lot less cash than you expected. Using charitable giving as part of your tax strategy can minimize your tax bill while also making a difference in the world. A donor-advised fund can lower your taxable income while helping charities you care a
Tax Strategies
The Benefits of Donating Stock to Charity
2021 has been an amazing year for the stock market. As of December 8, Vanguard's Total Stock Market Index (Ticker: VTI) is up over 25.1% for the year. Six companies (Apple, Amazon, Microsoft, Google, Facebook, and Tesla) are now worth over $1 trillion dollars in market capitalization. Newly public companies, like Roblox and Coinbase, trade at valuations of well over $60 billion. These are eye-popping returns by almost any historical measure. 👀 These stock market returns have benefited employe
Tax Strategies
HODL or DON8? The Benefits of Donating Crypto
2021 has seen an incredible rise in prices for crypto assets like Bitcoin and Ethereum. Bitcoin rang in the New Year at a price of $28,994 and now trades around $61,475, for an eye-popping return of 112%. Ethereum opened the year at $737, and now trades at $4,370, for an even larger return of 493%. By any measure, these gains are incredible. While millions of people have benefited from the stupendous rise in crypto value, millions more have not. As 2021 winds to a close, many people are looking
Tax Strategies, DAFs Explained
Why Have I Never Heard of a Donor-Advised Fund?
Most likely because the existing DAF products weren't designed for you.
