Save animals and taxes!
Donating appreciated stock, bonds or mutual funds to Second Chance Pet Adoptions is a smart way to give – allowing you to maximize your impact while reducing your taxes.
Why donate appreciated stock, bonds or mutual funds?
Gifting appreciated securities is an excellent way to support us for several reasons:
Avoid Long-Term Capital Gains Tax
By donating appreciated stock, bonds or mutual funds to Second Chance, you avoid paying long-term capital gains tax, which can be up to 20% on the increased value.
Receive a Tax Deduction
By donating the stock, bond, or mutual fund directly to Second Chance, you are eligible for a charitable deduction equal to the fair market value of the donated security for the tax year, which reduces your taxable income and your tax bill.
For Retired People
Most Americans over age 73 must make a Required Minimum Distribution (RMD) from their retirement plans each year (IRA, 401k, SEP, etc.). Rather than taking your RMD as cash, you have the option to avoid the tax you normally must pay on the RMD by donating it as a Qualified Charitable Distribution (QCD) to Second Chance instead. This reduces your tax liability, even if you do not itemize you deductions.
An Example of How it Works
* Assumes 20% federal long-term capital gains tax rate (varies by taxpayer).
What about securities that have decreased in value since they were acquired?
The best plan in this case may be to sell the shares yourself and then give the proceeds of the sale to Second Chance. This allows you to take any decrease in value of the shares as a write down on your taxes. Consult your tax advisor &/or broker.
What happens after Second Chance
receives your donation?
We immediately sell the security for full market value and put the proceeds to work to save more animals... all without paying any tax!
How to Donate Appreciated Stock or Mutual Funds
It’s easy! Drop us a line below and we’ll give you the instructions and information you need to direct your broker to donate your appreciated stock to Second Chance.
Contact your tax professional.
It’s always a good idea to include your tax professional in financial actions that can affect your taxes.
