Fortunately, many people donate to charities. Their donations provide necessities like food, water, medical supplies and a place to live. Extremely large numbers of refugees, families, and children are alive today because of their generosity.
Islamic Relief USA
Many people are familiar with Islamic Relief USA. They have been helping people and doing their very best to make the world a nicer place for 25 years now. What most people are unaware of is that you can use your securities to provide them with the help they need. Stocks give them the ability to give necessary aid to families and children all over the world.
The process is simple. Contact their finance team and tell nonprofit you want to help. Tell them you have stocks you would like to donate to their cause. They will give you all of the information you will need. They have experienced brokers who can both accept and record your generous gift. You can even write off the donation on your income tax return. The best part is you are helping a worthwhile organization help the people who need it most.
RMT Wealth Management
This company is located in Saddle Brook, New Jersey and will gladly help you donate your stocks. They advise that if your stock is currently trading lower than what you originally paid it might be better to sell your stock. You will take a tax loss but then be able to donate cash to the charity of your choice. If your stocks are located in a retirement account by donating your cash first you will not have to report any taxable income when you file your income taxes.
This New York-based company will tell you donating stocks will benefit both the charity and the donator. Most charities including non profit organizations will accept stocks. If your stock’s value has increased giving it as a donation means you will not have to pay any tax for capital gains. You will still receive a nice deduction on your taxes. Since you avoid being taxed on your donation you are able to give more. These charities need these funds to be able to help where it is needed the most and your generosity will make a difference.