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Donating stock, bonds or mutual funds to SAVE THE FROGS! is a fabulous way to assist amphibians, and can even lower your taxes. If you are considering such a donation, the first step is to determine whether your assets have appreciated (gone up in value) or depreciated (decreased in value).
- If your assets have appreciated, donating them to SAVE THE FROGS! can reduce your taxes in two ways: (1) you can avoid capital gains tax on the profit you’ve made, and (2) you can claim the fair market value of your gift as a deductible charitable donation.
- If your assets have depreciated, you should sell the assets first then donate the proceeds to SAVE THE FROGS!. This allows you to (1) claim a loss on the sale of the assets; and (2) count your gift to SAVE THE FROGS! as a deductible charitable donation.
If you are age 70 1/2 and have required minimum distributions each year, you may wish to take Qualified Charitable Distributions in order to both reduce your taxes and also help SAVE THE FROGS!.
Here is a short but useful article from Vanguard called Charitable giving: How to strategize your donations.
Be sure to also read our page all about Bequests & Estate Planning.
We suggest speaking with your financial advisor and then contact us when you are ready to donate stocks, bonds or mutual funds to SAVE THE FROGS!. We will give you all the information you need to complete your donation. Thank you for helping SAVE THE FROGS!
Rough Skinned Newt (Taricha granulosa) photo by Michael Starkey