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Stocks

Gifts of stock support out programs

Thinking of a gift to the San Mateo Public Library Foundation? Now might be the right time to consider a gift of stock or appreciated securities. Such gifts provide considerable tax advantages when transferred to the Foundation before they are sold. By gifting stock held for more than one year, you may realize several significant tax benefits. Your gift will create an income tax deduction for you in the current year based on the stock’s sale price. In addition, it will help avoid the capital-gains tax that would otherwise be due at the time of sale. For Advisory Council member, John Draper, making a gift of stock was an easy decision. “Gifting appreciated securities was a win-win situation for me and for the Foundation. And it enabled me to do a bit more for our marvelous public library!”

For example, if you purchased stock a number of years ago for $1,000, and now it is worth $10,000, an outright gift of the stock would result in a charitable deduction of $10,000. In addition, you would not incur any tax on the $9,000 appreciation in value of the stock. Sound like a good deal? Consider the “stock option!” Your financial planner can provide you with more information about whether a gift of stock is something to consider when making a gift to the San Mateo Public Library Foundation.

To make a gift of stock, contact Amy Himes, Executive Director at (650) 588-9100 or amyhimes@smplf.org.

 

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