Did you know that you can avoid paying capital gains taxes on stocks or other securities that have appreciated in value, if you donate the stocks directly to the Vaishnava Seva Society? In addition, you will be able to deduct as a donation on your tax return, the full market value of the stock on the day of the donation.
Donating long-term appreciated securities directly to the Vaishnava Seva Society’s Fidelity Brokerage account — rather than selling the assets and then donating the cash proceeds — is one of the best and easiest ways for donors to give more.
A charitable contribution of long-term appreciated securities — i.e. stocks, bonds and/or mutual funds that have realized significant appreciation over time — is one of the most tax-efficient of all ways to give. This method of giving has become increasingly popular in recent years.
The two key advantages:
1-Any long-term appreciated securities with unrealized gains (meaning they were purchased over a year ago, and have a current value greater than their original cost) may be donated to the Vaishnava Seva Society and a tax deduction taken for the full fair market value of the securities. The annual limit to these types of donations is up to 30% of the donor’s adjusted gross income.
2-Since the securities are donated rather than sold, capital gains taxes from selling the securities no longer apply.
For more information about donating securities to the Vaishnava Seva Society, please contact me at: