Learn About the Benefits of Donor Advised Funds for Tax Planning

Key Takeaways:

1. Donor-advised funds allow individuals to receive an immediate tax deduction for their donations and have time to decide which organizations to support.
2. By donating a larger sum to a donor-advised fund, individuals can maximize their tax benefits and still distribute the funds over several years.
3. It is important to choose a donor-advised fund sponsor that supports the organizations you want to donate to.

 

Chapters:

| **Timestamp** | **Summary** |

| ------------- | ----------- |

| 0:00:05 | Introduction and disclaimer about investment advice |

| 0:00:37 | Philip and Allison discuss the start of November |

| 0:02:26 | Introduction to the donor advised fund |

| 0:03:53 | Explanation of how the donor advised fund works |

| 0:05:06 | Importance of giving more than $10,000 for tax deduction |

| 0:06:36 | Discussion on how donor advised fund can enhance relationships |

| 0:08:25 | Consideration of donor advised fund sponsors supporting preferred organizations |

| 0:09:48 | Importance of setting up donor advised fund early in the year |

| 0:10:34 | Contact information for financial planning assistance |

| 0:11:14 | Closing remarks and disclaimer about investment advice |

 

Powered by ReiffMartin CPA and Stone Hill Wealth Management

 

Social Media Handles 

 

Follow Philip Washington, Jr. on Instagram (@askphillip)

 

Subscribe to Wealth Building Made Simple newsletter

https://www.wealthbuildingmadesimple.us/

 

Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!

 

WBMS Premium Subscription

 

Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.