The holiday season is here, which means gift-giving is probably on your mind. In addition to making gifts to your family and friends, you also may be interested in contributing to charitable organizations. But before you donate financial assets, such as stocks, you will need to consider several factors, including taxes, your portfolio balance and the reputation of the charity. Let’s look at these areas:
Taxes – Your donations to qualified charities (those that are considered 501(c)(3) organizations by the Internal Revenue Service) can give you tax deductions – if you itemize deductions on your tax return. However, due to recent ...