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Charitable Giving with Appreciated Securities
| GRCGLA Rescue is now able to accept stocks, bonds and mutual funds as contributions. This is a great way for donors to make gifts and maximize the potential tax benefit. When you gift appreciated securities, you can realize two tax benefits. The first is a charitable deduction for the fair market value of the securities at the time of the contribution (subject to certain tax limits.) The second is that you don’t have to pay tax on the capital gain that would have resulted if you sold the security.
First of all, you must have held the security for at least a year. Let’s say you purchased $10,000 of stock more than a year ago and the value has risen to $20,000. If you sold the stock you may pay as much as 15% of the profit in capital gains tax - $10,000 x 15% = $1,500. If you donate the stock directly to GRCGLA Rescue, we are able to sell the stock without a tax consequence due to our non-profit status. You have saved yourself up to $1,500 in capital gains tax, and you may be able to claim a deduction for the $20,000 charitable contribution. If you are in the 25% tax bracket this could be worth as much as $5,000 (more for higher tax bracket donors!) And don’t forget the benefit to your state taxes.* In addition, you will have made a big difference to Golden Retrievers that come into GRCGLA Rescue.
It’s easy to arrange a transfer from your brokerage account to ours. If you would like more information, or want to make a gift please contact Barbara Davis at go4thegold@sbcglobal.net for transfer instructions.
*Please check with your tax advisor regarding your specific situation
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