Giving to the Church
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Year End Giving
Many people find the end of the year a particularly good time to make donations to charity. In addition to cash gifts, many people consider gifting appreciated assets. Gifts of appreciated assets provide a tax advantage to the giver. While taxes should not be the prime consideration for giving, the wise steward, certainly can leverage their gift to maximize the size of the gift, within the tax code. As an example, if an individual were going to make a $10,000 gift in cash, they would be able to deduct that $10,000 gift from Adjustable Gross Income when itemizing deductions. A stock purchase at $5000 that had appreciated to $10,000 would subject the investor to Capital Gains taxes on the $5000 gain. Gifting that stock directly to charity would result in no Capital Gains Tax liability to the individual, but would result in the same $10,000 deduction of the market value of the gift.