The CapitalWize Q&A column addresses your wealth management questions courtesy of the Capital Formation Group, Inc.
I have quite a bit of stock in my company. Should this be used for charitable giving?
If your publicly traded stock has been owned by you for more than 12 months and has appreciated a good deal, it is a fine choice for the ‘currency’ of charitable giving. This stock given to a public charity or a private foundation would provide an income tax deduction (AGI limits and carryover apply) for the full fair market value of the stock and when sold by the charity you would not have to recognize the long term capital gain for income tax purposes.
John Williams is President/CEO of Capital Formation Group, Inc. www.capitalformationgroup.com If you would like speak with Mr. Williams, he can be reached at (781) 237-0123 or by email at jwilliams@capformgroup.com.
Any tax advice contained herein is of a general nature and is not intended to provide investment advice nor does it account for your individual investor circumstances. Further, you should seek specific tax advice from your tax professional before pursuing any ideas contemplated herein. This advice is being provide solely as an incidental service to our business as insurance professionals.
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Investment Advisory Services Offered Through Capital Formation Group, Inc.
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