Benefit from Growing Assets: Donate Appreciated Securities to the Cancer Support Community of Greater Ann Arbor
If you’re looking for a tax-savvy way to support the Cancer Support Community of Greater Ann Arbor, consider using securities and mutual funds that have grown in value and have been held for more than one year. Making a gift of these assets not only allows you to contribute to our vital work but also provides significant benefits for yourself.
By donating appreciated securities or mutual funds to support our mission, you have the opportunity to reduce or even eliminate federal capital gains taxes on the transfer. Additionally, you may be eligible for a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
There are several ways appreciated securities are commonly used to support our work:
Outright Gift: When you choose to donate securities, you’ll enjoy the same income tax savings as you would with a traditional cash donation. However, the added advantage is that you eliminate capital gains taxes on the transfer, which can be as high as 20%.
Transfer on Death (TOD) Account: Consider placing a TOD designation on your brokerage or investment account, ensuring that the account’s proceeds will be paid to one or more persons or charities after your lifetime.
In addition to these methods, there are several other ways you can fund your gift, including:
A gift in your will or living trust
By donating appreciated securities, you can make a meaningful impact on the lives of those affected by cancer while also optimizing your financial benefits.
