Estate Planning Vault

End of Year Money Tip

If you are contemplating charitable giving this year, consider donating appreciated stock rather than writing a check. Donating stock directly to your charity of choice enables you to recognize a charitable deduction for the full market value of the donated stock whereas selling the stock, then making a donation from the profits would trigger a tax.

Most charities are capable of accepting gifts of stock, however, they may take some time to process. Be aware the transaction must be completed by December 31st in order for the deduction to be recognized in 2006.

Source: www.BusinessWeek.com, 12-04-06