- Hagel orders military medical team to train, get ready for quick response to more Ebola cases in US
- The Ebola ‘bio-weapon’ conspiracy
- Communists look to give Democrats boost
- Sweden hunting for Russian submarine in its waters
- Netanyahu warns world powers: A nuclear threshold Iran is a bigger threat than ISIS
- Church should not fear change, says Pope after synod backlash against softening of stance towards homosexuality
- Expert says deadly eruption in Japan shook up volcano, making nuclear reactors unsafe
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: email@example.com