“Maximizing Impact: Leveraging a Donor-Advised Fund for Charitable Giving”

Charitable giving is often associated with the wealthy, but anyone can participate in giving back to their community. Donor-advised funds (DAFs) are a popular way to streamline the giving process and maximize tax benefits. There are several triggers that indicate it may be a good idea to consider a DAF, such as retiring, selling a business or a home, diversifying investments, or no longer itemizing tax deductions. Using a DAF can help individuals take advantage of tax deductions while also supporting causes they care about. The key questions to ask before giving are: Is charitable giving the primary intent? Can I afford to give? How should I give? By answering these questions, individuals can make informed decisions about giving back to their community while also maximizing tax benefits.