Burdened with stock you can’t afford to tell due to capital gains tax?
Consider taking a huge bite out of your tax obligation by making a tax deductible donation to GSSASome of you may have bought stock in Netflix, Apple, Tesla or Facebook years ago and got it for a song. Now it’s greatly appreciated in value and if you want to sell, you’re looking at incurring a big capital gains tax bill. One option is to donate some of it directly to GSSA in return for a big tax write-off based on today’s value of the stock.
Remember, GSSA is a federally registered 501c3 non-profit allowing donors to deduct any kind of donation. Your brokerage firm will likely have a pretty simple form for you to fill out in order to make the donation. GSSA, in turn, will send you a letter acknowledging the donation at today’s value for the stock with our non-profit tax ID number. This could be a big win/win.
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