Optimize Your Charitable Planning for Maximum Tax Savings

At Durbin Bennett, Austin, we understand the importance of giving back to the community whether at a local, national, or global level. As part of the financial planning process, we dedicate time to understand your goals around charitable giving and how they fit into your personal financial plan. We then help create charitable giving strategies to achieve the highest possible social impact for the groups and organizations you want to support in the most tax-advantaged manner possible. Some of the strategies include:

  • Donor-advised funds (DAF)
  • Charitable tax deductions
  • Donating highly appreciated stock
  • Charitable trusts

Through these strategies, we can help you leave your mark on the world and achieve your goals, all while saving you taxes.

What Is a Donor-Advised Fund?

A donor-advised fund (DAF) is a vehicle for charitable contributions that has the structure of a private foundation without the administrative burden of one. The steps for setting up a donor-advised fund are:

  • Establish a DAF with a financial institution.
  • Make a donation of cash, securities, real estate, or shares in a partnership to the DAF.
  • Upon making the contribution you immediately receive the full tax deduction.
  • Let your contributed assets grow over time as you decide which charities to support or donate the assets right away.

With a donor-advised fund, you receive the tax benefit of your philanthropy right away while you decide how to make the most of your contribution. A DAF is ongoing as well, so you can contribute and receive tax deductions each year.

Contact our Austin Office to Implement Risk Management to your Portfolio Today

To learn more about tax-advantaged charitable giving strategies and how your portfolio could benefit, call, or fill out our form.

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