Are you aware of the benefits to you of making gifts of stocks to New Hope Coalition??
Save on Taxes - by donating the actural stock or security that has significatly appreciated you save on any capital gains that you would otherwise incur if you were to sell it yourself and make the same donation.
Example: If you purchased a security for $50 a share and it has doubled in value to $100 over the years that you owned it, you will have a capital gain of $50. The current capital gain rates for individuals at the 28% tax bracket (2016 income of $151,201 to $230,450 for married, filing taxes jointly) would be a 15% long-term capital gains tax. This it would cost you $7.50 for every share of that stock that you elect to sell in order to make your gift. Instead, why not consider avoiding the capital gains tax entirely and receive your charitable contribution deduction by transfering the actual shares of stock to New Hope Coalition. We will "recoup" that "lost" 15% capital gains tax and your gift will go farther.
This long term capital gains tax increases to 20% for you who are in the highest income bracket. So, this strategy is even more meaningful to you.
Claim 100% of the Market Value - by donating the actural stock or security that has significatly appreciated you are able to claim the actual market value of the security as of the day of the gift. So, instead of giving what only cost you $50 as share you are giving a gift of $100.
If you would like to save some taxes by donating securities that have appreciated considerably...
Please call us and ask for our Executive Director, Darryl Brown, to help you determine the best way to partner with New Hope Coalition. You may reach him at 727-330-5944.