(920) 921-2215Fax: (920) 921-1036
384 N. Main Street - Suite 4Fond du Lac, WI 54935

Tax Smart Giving

Tax-deductibility of gifts

  1. Charitable contributions are income tax deductible for people who itemize their tax returns. Depending on whether you contribute cash or stock you may be able to deduct up to 50% and 30% respectively, of your adjusted gross income on this year's return.
  2. Giving appreciated stock (held for more than a year) is especially advantageous, as your deduction is based on the value of the stock on the date of the gift and you pay no capital gain tax.  This is a great way to lock in recent investment gains.
  3. Congress has approved an extension of last year's IRA Charitable Rollover rule, which allows donors to give surplus IRA or qualified retirement plan assets (up to $100,000) directly to a charity without having to recognize the gift amount as income.

Tax-Smart Giving Opportunities

Here are a few tax-smart opportunities for charitable giving.Have you recently:

  • Sold your company?
  • Inherited a large sum?
  • Received a bonus?
  • Seen appreciation in your stock portfolio?
  • Earned a large income?

If you said yes to any of these questions, you may want to ask your financial adviser or accountant if setting up a charitable fund with the Fond du Lac Area Foundation would be advantageous to you.