Donating stock to CFAAC is one way you can give a powerful gift, while avoiding the capital gains tax. It can make a huge difference for CFAAC and is also tax-advantageous for you in more ways than one! In addition to avoiding capital gains taxes, stock donations are also tax deductible. So, if you itemize deductions from your federal income tax, you can deduct the donation from your taxable income. In addition, when you donate stock to CFAAC, your dollar goes further than if you were to sell the stock and donate cash. This is because the money you would have paid in taxes can instead go fully to CFAAC. It’s a win-win for you and CFAAC.

Let’s take a closer look at how a donation of stock to CFAAC can be tax advantageous to you. First, when you sell your stock, the Federal government requires you to pay capital gains taxes on any profit you make. Depending on your income level, you could be taxed up to 20% on your capital gains. However, if you donate the stock to CFAAC, neither you nor CFAAC will have to pay taxes on it. By donating it, you save money and can give  more. As mentioned previously, stock donations can also be tax deductible.

If you don’t want to change your stock portfolio, giving stock is still one of the most practical and tax savvy ways to give. By donating shares of appreciated stock and then repurchasing the same number of shares immediately, your portfolio can remain the same.

Giving the gift of stock is not complicated with the help of the philanthropic advisors at CFAAC. Donate the gift of stock today. Call Rosemary at 410.280.1102 ext. 103 or email Rosemary@cfaac.org for more information.

If you’re ready to make a gift yourself, see below for stock transfer information or give us a call to make a larger impact on your community than ever before. Monday, November 29, is designated as #StockMonday. 

Stock Transfer Information