What everyone knows about the current tax law of the United States is that charitable acts can be translated as tax deductions. What is a surprise to many is that more and more contributions to charitable causes are donations made in cryptoactive , life insurance policies and restricted actions.
Fidelity Charitable, a fund advised by donors and the second largest fund in the United States , reported that only last year, people gave away $ 796 million in non-public assets to charities. A record figure from every point of view, especially if we take into account the 3.5 trillion dollars in total that were given in charity last year according to this organization .
A donor-advised fund allows people to make an immediate tax deduction on their donations , invest the tax-free assets, and award the value of assets to qualified charities. In addition to giving up everything they put in the fund, they retain privileges of advice on how your account is invested and how the money is distributed to the charities of your choice.