What is a Donor Advised Fund

What is a Donor Advised Fund - Tax Strategy

Рет қаралды 7,756

2 жыл бұрын

Do you donate to a church or charity? Then you MUST know about Donor Advised Funds.
Donor Advised Funds, (also known as a DAF), have EXPLODED since 2020.
There are over 1 MILLION Donor Advised Funds being used across the United States.
Donor Advised Funds are a simple way to donate to your church or charity of choice and receive a seriously sexy tax deduction upfront.
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*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your own attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

Пікірлер: 38

@borismusheyevcpa Жыл бұрын

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@BornRiders 5 ай бұрын

Boris, greatly appreciate the DAF video. Keep it coming!

@tylerklepek4716 8 ай бұрын

Boris. You are the man. Great explanation.

@marcaugustin3993 2 жыл бұрын

Very well explained with great simplicity!

@borismusheyevcpa Жыл бұрын

Glad it was helpful!

@NetanelColish Жыл бұрын

tysm!

@leland12345 Жыл бұрын

You know what everyone is thinking... If I setup my own 501c, I can donate from my DAF to the 501c I manage. Isn't that what the politicians do?

@cabsouth 6 ай бұрын

What are the IRS repoting requirements? If appreciated mutual funds are used to fund the DAF, does the form for "Non -Cash" donations have to be signed by the recipient of of the donation, or does the DAF administrator provided the documentatoin for the deduction? Thanks for the great video, btw

@markhealey1083 Жыл бұрын

I am facing a capital gains bill of about $45k for a summer property i sold this year owed to the IRS. I want to fund a DAF in my name this month for $45k. Will that offset the capital gains?

@vincentsevier983 Жыл бұрын

If you contribute $5k and you get the immediate tax benefit. As the $5k appreciates and it is not $8k. When you go to donate the additional $3k from appreciation to a charity of your choosing. Do you get the $3k reduction as well or just the initial $5k?

@heartstrings110 3 ай бұрын

Good question.

@talltodd 3 ай бұрын

Just the initial $5k.

@Ms2Chill Ай бұрын

Any info on private family foundation?

@romanbabakhanov5898 2 жыл бұрын

Is the Donor advise fund can be put from Scorp directly? Or this is from your wages ?

@borismusheyevcpa Жыл бұрын

Your S-Corp could contribute to the fund or by your personal account.

@missouri6014 Жыл бұрын

Great content however you need $50,000 upfront or whatever amount in order to make this work to itemize more than the 25,000 or so tax exemption that all Married couples get Can you address that for us

@Omikoshi78 Жыл бұрын

What’s the advantage of letting the money grow in DAF vs letting it grow in taxable and transferring to DAF? Asides from the immediate tax deduction?

@borismusheyevcpa Жыл бұрын

Great point, I would say it really depends on how long u will keep the money in DAF

@MrTurbo1k Жыл бұрын

What is the advantage of opening a DAF instead of just making donations to charities each year for the amount of the DAF? Would you not get the instant savings if you just donated the money?

@borismusheyevcpa Жыл бұрын

Hey Jon - A DAF is different than just doing a normal donation to a charity. It's basically like a retirement account where you fund the account and let the funds grow in different types of investment options and from there, you could donate the investment stock, mutual fund or whatever type of asset to the charities.

@MrTurbo1k Жыл бұрын

@@borismusheyevcpa I understand that part. The part I don't understand is why do it if the result is the same?

@arbatt5438 Жыл бұрын

@@MrTurbo1kthe result isn’t the same if the amount of value in the DAF grows over time. You can also increase the deduction if the contribution appreciated over time. If you mean that the money is never coming back to yourself, yes, the result is the same.

@JJ-xv3gs Ай бұрын

@@arbatt5438 How does the money come back to myself? The money in the fund is only for charities, right? Another words, I would not be able to take that money and give it to my kids.

@dqforever5 Жыл бұрын

I keep hearing 50k In these videos.. is that the amount where the tax benefit matters?

@borismusheyevcpa Жыл бұрын

$50,000 is only a example number we used for the video

@jadely5243 Жыл бұрын

Can I move my IRA to DAF?

@borismusheyevcpa Жыл бұрын

Yes you can!

@jadely5243 Жыл бұрын

What will be TAX situation I should know to move IRA to DAF?

@Mark-ye9pi Жыл бұрын

Cash donations exceeding 60% of your adjusted gross income will be carried over the 5yr rule

@Mark-ye9pi Жыл бұрын

Itemization: Mortgage interest, property taxes, charitable donations

@Mark-ye9pi Жыл бұрын

Standard deduction for MFJ = $25,900 Standard deduction for Single = $12,000

@Mark-ye9pi Жыл бұрын

Foundations require a lot of administration and overhead costs, DAF cut those costs.

@rich2056 Жыл бұрын

Why are wealthy donors pouring funds into DAF without even paying out any funds to any charities. Charitable donations are actually decreasing as wealthy donors are increasingly participating in DAFs. You have to tell the whole story. It’s counter productive to charity…and focuses more on tax dodging.

@borismusheyevcpa Жыл бұрын

Once the money is put into a DAF it can grow and accumulate but it has to be given to charity. Owners of the DAF can't pull it out and use it for themselves.

@rich2056 Жыл бұрын

@@borismusheyevcpa Copy that…but what’s actually happening is the donors are dumping funds in the DAF and not dispersing the funds to a charity of their choice…ultimately leading to less funds being extended to charitable causes. There’s no regulations on the books to penalize tax dodgers who take advantage of this loophole.

@Mark-ye9pi Жыл бұрын

@@rich2056 The DAF company itself is considered a charity. Ex. Schwab Charitable is a 501c3. So you’re really contributing to 2 charities once you give to the chosen non-profit

@rightwingprofessor1356 Жыл бұрын

@@rich2056 How in the hell can you call them "Tax Dodgers" when the money has been IRREVOCABLY donated to a DAF. Your comments appear to be politically motivated. The beauty of the DAF is the tax free growth and the ability to donate larger sums periodically, instead of small gifts more frequently. Don't want to have a DAF, then move on. Don't disparage those of us that use them, LEGALLY!

@rich2056 Жыл бұрын

@@rightwingprofessor1356 Obviously, you’re not from planet earth because history has shown that the Elon Musty, Zuckerturd, Bitczos, Dumps etc never play by the rules and our DOJ/neutered IRS will not try cases against these jackasses because they feel they can’t win. Thereby creating an opportunity for this DAF to be exploited. On the other hand, for those donors that truly play by the rules and that are truly philanthropic - I applaud them but those who will choose to use this as an avenue to further circumvent our tax system at the expense of needy families…fuck them bitches and everybody who condones this!! 😂🤣…😭 In the famous words of Malcom X…”Peace ✌🏾my brother”!!