Stock Donations to Foresight — a Win Win
Donate stock that's appreciated in value. This is a win-win move. Donate stock and you won't have to pay capital gains taxes on the profits, and the full value of the stock can be deducted as a charitable donation.
For example, say you own $10,000 worth of stock that you originally bought for $3,000. If you sell it now, you'll pay tax on the $7,000 profit. (If you're in the 28 percent federal tax bracket, and qualify for the 20 percent long-term capital gains rate, you'd pay $1,400 in tax. That reduces the $10,000 to $8,600.) But if you give your $10,000 worth of unsold stocks to a charity, the IRS kindly lets you claim a tax deduction for the full $10,000. At the 28% tax bracket that works out to a $2,800 deduction.
It's quick, it's easy, it helps Foresight
Instruct your broker to transfer stock to Foresight Institute through:
FIRST CLEARING LLC
If you need additional information please contact the Foresight Institute at firstname.lastname@example.org or 650.289.0860. Tax benefits are described at: http://moneywatch.bnet.com/retirement-planning/blog/what-works/donating-appreciated-stock-a-double-play-of-tax-benefits/329/
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