The emergence of IPOs, mergers/acquisitions and buy-outs provide an opportunity to review your portfolio, access financial positions and consider charitable giving options as a part of a philanthropic strategic alliance designed to benefit all parties. Exciting possibilities and tremendous benefits can accrue for the community and you.
An easy and beneficial way to contribute to the United Way of South Hampton Roads Foundation, your community and also to your own financial health and well being is through a gift of securities.
Whether your investments have continued to grow, remained the same or declined, consider the possibilities of a charitable gift. A charitable donor may receive favorable tax benefits by making a gift of appreciated securities. If the value of securities you would like to give is less than their original cost, it is usually better to sell them and make a charitable gift using the proceeds.
Retirement plan assets, which are invested in stocks, mutual funds and other securities also provide gifting opportunities for donors.
You can realize two tax savings by contributing stock as a gift to the United Way Foundation:
- A charitable deduction: federal law permits taxpayers who itemize to deduct the current value of charitable contributions from their ajusted gross income.
- Avoiding capital gains tax: Contingent upon circumstances, stock contributors may have no tax liability on the difference between what they paid for the donated stock and its current fair market value (FMV); i.e., there may not be a tax on capital gains.