Charitable Giving Reminder
For those of you slaying it in the stock market…
Donating appreciated assets is a tax efficient way of funding your favorite charities. If you donate a stock that has doubled in value for example from $50 to $100, you get the full $100 deduction, the charity gets the full $100 and Uncle Sam gets $0 in tax. If you sell the stock to make the donation, .gov gets “their fair share”. Many worthy causes can’t easily receive appreciated stocks which makes a Donor Advised Fund a good charitable tool. Both Fidelity and Vanguard make the process easy. Donate stock to your charitable fund, then use the portal when making grants to charities. As an added bonus you can simplify tax preparation with one annual tax deductible contribution but fund multiple donations.