HCR Wealth Advisors considers all matters when educating and building trust with their clients. One topic that often surfaces, especially during the holidays, is the idea of charitable giving and how best to follow through on it.
This subject comes up just about every day of the year, however. HCR Wealth helps clients create a personalized investment plan designed to meet their goals. For instance, they might wonder how they can make more money available to charitable organizations. One way is through donation of stock directly to a non-profit cause instead of selling the stock and donating the cash.
Donation of Stocks Instead of Giving Cash
As HCR Wealth Advisors assists clients with setting up donations that pay charities directly, they also find ways to give investors a tax break. This involves showing high net worth individuals how they can reduce or eliminate federal, Medicare, capital gain or other liabilities when donating. Part of this happens as the amount of taxable income decreases, but it also takes place as investors find ways to control the way they allocate cash.
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How Stock Donation Works
By taking HCR Wealth Advisors’ advice, some high-profile investors have done the following: They take advantage of the ability to claim donations as a tax write-off, which gives them the ability to offer a larger gift to the causes they represent. This happens because donated stock is taxed based on a fair market value versus paying a capital gains tax on the profit.
HCR Wealth Advisors explains all aspects of investments to its clients. Contact this RIA firm for more information on ways to free up money for charities and to improve your financial portfolio.
This article is provided for informational purposes only and should not be interpreted as investment advice. HCR Wealth Advisors is not affiliated with this website.