You might believe (like I used to) that you don’t have enough spare cash right now to make regular charitable donations. And if this sounds like you, I want you to listen in closely because I truly believe that our willingness to donate to charity says a lot about our mindset when it comes to money and beyond.
I want to preface this episode by saying that I don’t think that anyone donates to charity for the tax breaks alone. If we’re being honest, they are kind of like the icing on the cake. But when you get into the tax side of things, tracking your donations and timing them to allow you a tax break in a given year can be a lot to think about.
And if you’ve been listening for a while now, you’ll know that I’m all about simplifying and automating, which is exactly what a donor advised fund (DAF) allows you to do when it comes to charitable giving and taxes.
Tune in this week as I share my own journey of charitable giving, and how you can simplify and maximize the process of both donating to good causes and taking advantage of the associated tax benefits.
If you’re ready to take control of your money and practice medicine on your terms, you need to check out Money for Women Physicians. Click here to learn more!
What You’ll Learn from this Episode:
- My journey of believing that I didn't have enough spare cash to donate to charity.
- How a donor advised fund simplifies your charitable donations.
- Where you should consider opening a DAF to maximize both your donation and your tax break.
Listen to the Full Episode:
Featured on the Show:
- Learn more about Money for Women Physicians where you’ll learn the tools to make practicing medicine OPTIONAL.
- Follow me on Instagram
- Ep #23: Money Scarcity
- Blog: When I’m Rich, I’ll Give
- Blog: The Smart Way to Give to Charity – Donor Advised Funds