Leveraging Generosity during the Holidays
Michelle ClaryTis the season for gifts! How can you make the most of your charitable giving this Christmas? The answer may lie in the power of non-cash gifts. Take advantage of strong market conditions – the kind we’re seeing now – by giving appreciated securities like stocks, bonds, or mutual funds directly to a nonprofit organization rather than selling them to donate as cash. You’ll avoid paying capital gains taxes on those securities and get a tax deduction on their full market value. Best of all, the organization will receive a gift that hasn’t been reduced to pay tax liabilities. That’s one Christmas present you won’t even need to wrap.