Did you know you can donate to stock to Charitable Funds at big brokerage houses, instead of directly to a charity. The Brokerage house’s fund IS the charity (for tax deductions) and then you direct where the proceeds go (to multiple places). The attached is a similar idea, but donating directly to USC Rugby.
The great thing about it is that you don’t have to pay capital gains tax on the profits AND you get to deduct the entire donation (which includes the gains).
If you bought Apple for $25 and it is now worth $100. You’ve had it at least one year and decide to sell. You have to pay capital gains tax on the $75 gain.
But with these Charitable Funds, you could donate all $100 of Apple stock. You get to write off all $100 as a donation on your taxes. And you don’t have to pay ANY capital gains tax. Sweet!