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Year-End Tax Planning

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With stock markets reaching all-time highs, now is the time to consider donating stock.  There are tax advantages to donating stock that has appreciated in value.  The IRS allows you to value your donation at the current market price and you do not have to pay tax on the capital gain if you donate the stock directly.

For those over 70 ½ years old, the IRS allows you to donate up to $100,000 from your IRA to an eligible charity, the distribution will not be included in your income, and the distribution will be counted towards your required minimum distribution (RMD).  The donation must be made directly to the eligible charitable organization and there are some procedural requirements. 

At Grace Church, you can donate stock to share the blessings God has bestowed upon you to help Grace fulfill its mission.  Your donation can fulfill or add to your 2017 pledge, prepay your 2018 pledge, or establish a fund in the Grace Foundation for a specific purpose.  If you would like more information about donating stock or making a charitable distribution from your IRA, please contact John Abe (john.abe@stifel.com).