If you are fortunate enough to own an asset purchase that has gone up in value since you purchased it, you should consider giving some or all of it to The Laura Flanders Show, a 501(c)3 non-profit entity. A donation of this type will not only contribute to our progressive mission, but enable you to reap substantial tax savings.
Gifts of stock and other securities, including mutual funds, Treasury bills and notes, and corporate and municipal bond can easily be made.
No matter how large the donation, there is no need to obtain an appraisal. The value is simply based on what the stock or other security sold for on the exchange on the day of the donation. There are very favorable tax rules for donors who want to donate long-term stock (those owned for more than one year) that has appreciated in value.
You will never have to pay capital gains on the appreciated stock. And you will get a deduction equal to the fair market value of the stock at the time of the transfer (its increased value), and never pay capital gains tax on the appreciated value of the stock.
For further information please contact our CFO, Frank Spring, at frank4ny@gmail.com. Thank you.
