Considering a private foundation for your philanthropic endeavours? There may be a more flexible and efficient option – a donor advised fund. Tim Domino, CPA, CFP®, explains how this charitable planning vehicle works and how it compares to private foundations.
Recent tax reform has significantly increased the standard deduction for individual tax payers, which can impact the tax benefit of charitable giving for many of our clients. In this article, we examine vehicles and strategies for fulfilling your philanthropic goals in a tax-efficient manner.