![]() |
|
News & AnnoucementsDISCOVER THE BENEFITS OF GIVING WISELYTips for Year End Giving | 11-Nov-2016
Go BackWhat to do in order to ensure you can claim a charitable deduction for 2016:
Donating long-term appreciated securities can provide additional tax benefits
If you would like to make a donation of stock please contact Lisa Stanger, Executive Director of the Jewish Foundation (203-387-2424, x382; lstanger@jewishnewhaven.org) for the Foundation’s stock account information. For example, if the securities originally cost $2,000 and now have a fair market value of $10,000, you do not pay tax on the $8,000 gain and you may claim a charitable income tax deduction for $10,000. How do gifts of cash and securities compare?
*Please note: A different tax rate may apply to you and, accordingly, the charitable benefit you receive may vary. **Gifts of securities may be deductible up to 30% of your adjusted gross income, however, excess deductible amounts may be carried forward for five years. Please consult with your own professional to determine your specific situation. |
|||||||||||||||||||||||||||||||||