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So you not only get the deduction, but also avoid a capital gains hit. The strategy doesn’t work with stock that’s declined in value.
As a donor, contributing appreciated stock can entitle you to a tax deduction equal to the securities’ fair market value — just as if you had sold the stock and contributed the cash.
But neither you nor the charity receiving the stock will owe capital gains tax on the appreciation.
The SAFE Project is a program to improve the safety and employability of domestic violence and sexual assault survivors who are currently receiving Temporary Assistance for Needy Families (TANF) benefits.
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By bringing together senior citizens and children who have special or exceptional needs, the Foster Grandparent Program allows retired individuals to engage in meaningful work that benefits all involved.
When many people think about charitable giving, they picture writing a check or dropping off a cardboard box of nonperishable food items at a designated location.But giving to charity can take many different forms.