As mentioned in our previous blog entry (HERE), we are launching our very own Donor Advised Fund which we've christened the Dark Horse Charitable Fund. The fund has been created to help support the various charitable causes that our team members AND clients are passionate about in an easy and tax efficient manner.
You may have heard of donor advised funds as they have gained popularity since the passage of the Tax Cuts & Jobs Act, which increased the standard deduction and significantly limited the deductability of state & local taxes. Thus, in many cases, many charitably-minded folks are only able to get the tax benefit of their donation if they batch their donations into a single year. Obviously, tax write offs are not the main reason people donate (hopefully) but why not be strategic and get the tax benefit if you're going to do it? Working with your Dark Horse CPA, you will learn about the charity that they support and determine the tax savings of a given donation amount. Of course, you can always request that your funds be directed to whichever charity you would like to fund. The beauty of it all is that you get the deduction when you write a check to the Dark Horse Charitable Fund and then you can fund your charity (or charities) by whatever dollar amount you'd like, whenever you'd like. Pretty cool, huh?
As part of our initiative to successfully launch this fund, we are providing discounts on tax return preparation for clients who donate prior to year-end. Donate to a worthy charity, get a tax deduction and a discount on your tax return. This is truly a win-win-win.
If we've piqued your interest, get in touch with your Dark Horse CPA to get more details and to make sure you get the deduction & discount for 2019!
About Dark Horse CPAs
Dark Horse CPAs provides integrated tax, accounting, and CFO services to small businesses and individuals across the U.S. The firm was founded to save small businesses (and their owners) from subpar accounting and tax services and subpar client experiences. These small businesses are Dark Horses among their larger and more well-known competition. Being a Dark Horse CPA means advocating for small businesses by bringing them the tax strategies and accounting insights previously reserved for big business. Get a quote today.