- Starting 18th Year, TRUNEWS Has Renewed Vision, Purpose
- Health officials troubled over potential Zika transmission in U.S.
- Duterte blasts Catholic Church after calling it ‘sons of whores’
- Venezuelan government mandates fingerprint biometrics for food
- Gregg Jackson: Leaders of ‘religious right’ traitors to Christianity
- Schools Across US Evacuated Due To Bomb Threats
- Terrorists could have used EgyptAir flight 804 as test run
- TSA head ejected over lines, missed flights and bonuses
- Clinton Foundation got $100m from ‘blood minerals’ firm
- Gen Boykin: Obama is letting terrorists cross the border
Gifts of Stock
You may hold stocks with substantial appreciation. If you’re considering a major gift or end-of-year gift, a gift of public company stock to charity provides two major benefits.
- There is a charitable deduction for the value of the stock.
- The charity does not pay tax on the sale of the stock so you bypass the capital gain.
If you have a large gain or substantial income, you may want to offset that gain or income with a charitable deduction through a gift of stock. Because you receive both the charitable deduction and avoid capital gains tax, there is a double benefit for your gift of stock.
Another reason for making a stock gift is that you may have a very substantial income that could cause you to pay a large income tax. Note that there is a limit to the amount that can be deducted in one year based on a percentage of your adjusted gross income.
Because most stock is held by the brokerage firm, the stock is transferred directly from the account at the brokerage firm to an account for the charity. For any gift more than $250, the charity will issue a receipt.
Please contact us, or have your accountant contact our accounting department by phone: (772) 569-8880 Or email: firstname.lastname@example.org