- Ebola is MUTATING claim scientists tracking outbreak amid fears virus could go AIRBORNE
- Arizona copes with measles outbreak as Super Bowl nears
- RAF fighter jets intercept Russian military planes over the English Channel
- Gorbachev warns Cold War could heat up to all-out war
- U.S. would welcome Japan air patrols in South China Sea
- Deal with Iran at heart of Argentine prosecutor’s death mystery
- Detainee swapped for Bergdahl suspected of militant activities
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