With the tax deadline approaching, this is a good time to take a look at one simple way to maximize your tax benefits as well as benefit a charity that you support.
Many will write a check from their bank account to contribute to a charity. However, it can be beneficial to contribute with appreciated shares of an investment. This can help contribute to the charity and also avoid having to pay capital gains tax on the investment. Definitely a win-win!
If you have questions about how to make a charitable gift with an investment account, please do not hesitate to contact us. As always, consult with your CPA or tax preparer for tax advice.