any pros/cons to this route as against straight charity $$ contributions? there is a 0.6% ywarly fee on the account balance + $5K minimum opening deposit. serious replies only with first hand experience please
If you donate long term appreciated assets instead of cash, the tax savings are even better. Fidelity Charitable makes this extremely easy if you have a Fidelity brokerage account. Donating securities directly to a charity is a hassle, often involving paper forms and smaller organizations sometimes won't even do it.
Thanks for sharing! Is donating short term appreciated equities even better then?
Absolutely
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It simplifies your taxes. One lump sum to account for, instead of many smaller donations. Also, you can donate to your account more than you distribute from your account, allowing you to spread out your giving over a longer period of time. For example, when you retire, you can still have a balance in your account that you can use to donate.
Also money can grow through investments. Microsoft does provide a single list for easier tax filing
60 bps seems kinda steep for saving a few minutes on your taxes.