Charitable Gifts Can Still Provide Tax Benefits

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MINT HILL, NC – It’s the season of giving – and your gifts to charitable groups will be much appreciated.  And when you give, you can also get something back : tax benefits.

For one thing, if you donate appreciated stocks to a qualified charity, you’ll avoid the capital gains taxes you would have to pay if you sold the stocks, provided you’ve held them at least a year.  If you itemize, you can also deduct the full value of the stock.

Even if you don’t itemize, you can take a deduction of $300 or $600 for married couples filing jointly, for cash gifts given directly to a charity.  This benefit expires this year, though, so you’ll need to make your gift before the end of December.

And if you’re 70-1/2 or older, you can move up to $100,000 per year from your IRAs to a charitable organization, thereby avoiding the taxes you would have to pay when you start taking required withdrawals from these accounts.

Supporting a worthy charity is a good way to help celebrate the holiday season.  And if your generosity earns you some tax benefits, it’s a win for everyone.

If you have any questions, please contact me at (980) 859-2549 or by e-mail at

This content was provide by Edward Jones for use by your local Edward Jones Financial Advisor. Member SIPC

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