Do you have appreciated stock (stock worth more today than when you bought it) you’d like to donate to MRG Foundation or another non-profit organization? There are significant tax benefits to giving stock. However, unlike cash gifts in which you can wait until December 31st to give and still receive a tax-deduction, gifting stocks requires more advanced planning.
I recently spoke with Scott Pope from Sustainable Wealth Management about the best timing for donors to decide about giving stock. His suggestion was that donors should “make their year-end gifting decisions by the middle of November to ensure their advisor has enough time to complete the paperwork by December 1st.” While some brokers accept gifts later than that, there isn’t a lot of room for paperwork problems if you want the gift to count for year-end tax purposes.