With the rebound in the market, you may have some gains in your stock investments. You can rebalance your portfolios and gain more money for charitable giving this season when you give these appreciated securities through Servant Foundation. Any stocks, bonds, or mutual funds that have been held for more than a year and are worth more than the purchase price can be given directly to charity through a Servant Giving Fund… a much wiser solution than liquidating the stock and locking in a capital gains tax.
Clay Carlile had a nice run in the stock market recently and was getting ready to sell some of that stock. But then he thought about the taxes. He says, “I thought it sure would be great not to have to pay the tax on this. I had heard people say that the wisest way to give is not cash, but assets.” So he donated the stock to his Giving Fund, received a tax deduction for the fair market value of it, and avoided the capital gains tax. Now he has a lot more funds available for giving to his church and favorite charities. If you have stocks, bonds, or mutual funds that you’ve held for more than a year and are worth more than you paid for them, consider donating them to your Giving Fund before January 1.
Call us at 913-310-0279 or email Jonathan if you would like to talk with us about gifting appreciated securities.