Donor Advised Funds or Charitable Gift Funds

For federal tax reasons, taxpayers often wish to make a large charitable donation in a certain year, but may not yet have decided which charitable organization to benefit with that donation. Through the use of a donor advised fund, also known as charitable gift fund, a taxpayer can make a tax deductible donation in one year and decide in a subsequent year which charity to benefit. A donor advised fund is a public charity established by a financial institution in which an individual taxpayer can establish an account. The taxpayer can donate cash to the account and take an income tax deduction in the year the donation is made. The money is professionally invested so that it may grow, increasing the aid to the charities ultimately chosen. The taxpayer recommends the charities which will receive donations from his or her account, the amount and timing of those donations. Attorney Rubino is a tax lawyer with 32 years of experience in advising United States Taxpayers. He can advise you on the tax efficient use of donor advised funds.

Call Us Today

Fill out the contact form or call us at 203.327.4212 to schedule your consultation.

Leave Us a Message