Choose Stock Donation in the New Year for Starting the Year With a Kind Gesture That Gives Benefits
As the New Year unfolds, many people go for shopping with their loved ones, plan vacations and do budgeting for the year ahead. One of the things that everyone must include in the checklist is making a point to donate. Donations can be done to charitable or non-profit organizations in different forms. People donate their cash as well as belongings, when asked for donation from some charity representatives. But there is one way which lets you follow the new trend in charity giving, known as stock donations.
Stock donations are simple to do and benefit you in lot many ways. First you need to find the right kind of charity organization, to which you can make the charity. To do that, you need to research well by using available tools like internet and getting reviews from people who are regular donators. If you are availing services from any financial advisor then you can go and visit his or her office. Professionals working in the field of finance or stocks will tell you a lot many things about stocks donations.
Continuing with finding the non-profit organization to which you would like to donate your stocks, you can make a list of all possible organizations that accept stock donations. If they do not mention this on their respective websites then you can ask them telephonically. When you get to know about the charity organization that accepts donations in form of stocks then you should know a thing or two about their operations in fulfilling the mission that they have set.
The best thing about donating your stocks is that you do not have to pay for the profit tax which is deducted if you cash your stocks after they have appreciated after a period of time. Here, you must know that the stocks that you are donating must be the ones that have been in your possession for more than a year. This is so because if you donate stocks that are in your possession for less than a year then you won't be able to get the tax benefits out of them.
If you think that this is just a thing that you need to consider as a mandatory act then you are mistaken because experts who know a lot about taxation recommend that one must donate stocks, few or more doesn't matter but it does matter for your tax deduction.
Stock donations are simple to do and benefit you in lot many ways. First you need to find the right kind of charity organization, to which you can make the charity. To do that, you need to research well by using available tools like internet and getting reviews from people who are regular donators. If you are availing services from any financial advisor then you can go and visit his or her office. Professionals working in the field of finance or stocks will tell you a lot many things about stocks donations.
Continuing with finding the non-profit organization to which you would like to donate your stocks, you can make a list of all possible organizations that accept stock donations. If they do not mention this on their respective websites then you can ask them telephonically. When you get to know about the charity organization that accepts donations in form of stocks then you should know a thing or two about their operations in fulfilling the mission that they have set.
The best thing about donating your stocks is that you do not have to pay for the profit tax which is deducted if you cash your stocks after they have appreciated after a period of time. Here, you must know that the stocks that you are donating must be the ones that have been in your possession for more than a year. This is so because if you donate stocks that are in your possession for less than a year then you won't be able to get the tax benefits out of them.
If you think that this is just a thing that you need to consider as a mandatory act then you are mistaken because experts who know a lot about taxation recommend that one must donate stocks, few or more doesn't matter but it does matter for your tax deduction.
