The article discusses how a provision in Trump's tax bill, which increases taxes on private foundations, is likely to enhance the attractiveness of donor-advised funds (DAFs) among wealthy individuals. DAFs provide significant tax advantages, allowing donors to contribute various assets while advising on donations without the mandatory payout requirements of private foundations. Experts indicate a growing trend in DAF usage, particularly post-Trump, enabling donors to retain influence over charitable contributions, thus changing the dynamics of philanthropy in the U.S.
Donor-advised funds, or DAFs, are accounts where donors can contribute funds, immediately get a tax deduction, and 'advise' on where to donate - and they are becoming increasingly popular.
As long as you're following the rules of the DAF provider, you should always have those recommendations honored... they're growing like crazy.
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