It Sounds Like a Broken Record, but Stocks Keeping Breaking Records!
Over the course of many months and even years since the Great Recession, the U.S. stock market has continued to climb and break records.
It has indeed been a very advantageous time to invest in stocks.
But it's important to keep in mind that with those appreciated values, capital gains taxes must follow...
...Unless, you donate the stock!
Consider the following two options to avoid those capital gains taxes on your appreciated assets held for more than one year:
Option 1: Donate Stock to a Donor Advised Fund at the JCF
If you donate annually to such causes as the Jewish Federation of Southern New Jersey & its family of agencies, days schools, synagogues, or secular charities, you can first open a donor advised fund (DAF) to streamline your giving. When you gift stock to your DAF, you can then divide up the proceeds and recommend grants to your selected organizations as you see fit, with minimum distributions of $100.
Option 2: Donate Stock to an Endowment Fund at the JCF
If you want to leave a legacy to benefit any charitable cause of your choice, you may donate appreciated stock to an endowment fund, which then distributes annual income to the designated nonprofit(s) you select. This is a great way to leave a lasting impact and continue your generosity for many future generations.
To learn more, please contact the JCF at 856-673-2560 today. We encourage you to consult with your trusted tax advisor as needed, and the JCF is available to work with you and your advisor to maximize your gift.
Photo by Kevin Andre on Unsplash