Only a couple business days left in 2012! If taxes play a role in how you support charities, then you need to act now since gifts to charities today are a great way to reduce tax liabilities tomorrow. And if capital gains tax rates increase in 2013 as people suggest they might, then people may be better off to donate appreciated securities before next Monday!
It’s easy to make a gift! Most charities have a website that take securely accept credit cards. Using a check? The IRS considers the date of the gift to be the date the check was mailed – not the date it was received or cashed – so you have until Monday. And please work with a financial advisory to donate appreciated securities or stocks to ensure that the certificate(s) are properly endorsed and transferred by close of business on Monday.
Happy New Year!
